The eurozone has apparently been on an extreme emotional rollercoaster for about the past 24 hours. On Wednesday, the EU was crying that the eurozone crisis was about to hit financial meltdown, according to Money News. If that happened, Polish Finance Minister Jacek Rostowski insisted that not only would the eurozone be shattered, but, “the European Union will not be able to survive.”
Rostowski also claimed that he believed that war would break out.
European Commission president Jose Manuel Barrosochimed in that the financial crisis in the eurozone was, “the most serious challenge of a generation,” and that, “This is a fight… for the economic and political future of Europe.”
Olli Rehn, the EU economic affairs commissioner was emphatic that booting Greece from the eurozone membership would have “dramatic social, economic and political costs” that would eventually affect other member states, suggesting that direction needed for the implementation of a eurozone federal future.
The screams of the EU being at death’s door were apparently heard by global central banks who agreed to provide dollar liquidity to the market. According to Financial Times, “The European Central Bank said, in co-ordination with the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank, that it would lend eurozone banks dollars in three separate three-month loans to ensure they had sufficient funding until the end of the year” (emphasis added).
This news caused the fait eurozone currency to rise against the dollar.
Meanwhile, though Obama’s ratings have taken a dive across the U.S., Europe seems to think that he is doing a fine job according to Breitbart, which noted that a Wednesday poll found that, “75 percent in 12 EU nations approving [of] his handling of global affairs.”
As for Americans, “Obama’s disapproval rating [is] at 53 percent, and 77 percent said the country was on the wrong track. Thirty-four percent said Obama’s economic policies had done more harm than good.”
In fact, the AP noted that, “There are about 3.7 million more homes in some state of foreclosure now than there would be in a normal housing market, according to Citi analyst Josh Levin.”
Likewise, RealityTrac has anticipated that roughly “1.2 million homes would be repossessed by lenders this year.”
To make matters even worse, CNBC reports that amid 9.1 percent unemployment, “Consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americas’ purchasing power,” and that, “Food prices rose 0.5 percent, the biggest increase since March. That was due to higher prices for cereals and dairy products. Energy costs increased 1.2 percent.”
So not only is Obama’s approval rating falling among Americans overall, but Jews and many Christians in America aren’t too happy with him right now either because of how he is handling things in the Middle East.
Egyptian-born American and Christian minister over Leading the Way Ministries Dr. Michael Youssef points out in his article at One News Now that “Many Egyptian pundits have warned that mixing Hamas’ terror intentions with Wahhabi funding will mean the end of the Camp David agreement and the cold peace that has symbolized the relationship between Israel and Egypt for the last 29 years.
With an American administration openly and publically repudiating its only faithful ally in the Middle East, namely Israel, the militant groups are now emboldened to attack Israel on every side.
This is the time for all of Israel’s supporters in the United States, particularly Jewish-Americans, to reassess their blind and unquestioning support of the current administration.”
For further reading:
Former German Chancellor claims eurozone needs to surrender sovereignty
Steyn speaks on death of US liberty, Trump considers presidential run…again
Many believe that British style riots could happen here
Confederation of nations may be forming in the Middle East amid rioting