The massive debt crisis in Europe has put tremendous strain on the common currency—the euro. The spreading debt crisis is also putting increasing pressure on lending nations, namely Germany, and many are asking, “Will the euro survive?” The euro is viewed as the symbol of European integration and unity, but if it falters, the cohesion of the continent is in question.
The Economist recently examined this issue and strongly advised against allowing the euro to collapse and permitting member nations to revert back to national currencies. Yet, the article speculates that a possible alliance between Germany, Austria and the Netherlands could re-mint the Deutsche mark. Such a move would be fraught with financial and political perils. The article concludes with the sobering observation: “Breaking up the euro is not unthinkable, just very costly. Because they refuse to face up to the possibility that it might happen, Europe’s leaders are failing to take the measures necessary to avert it” (The Economist, November 2, 2010).
Bible prophecy indicates that just before Jesus Christ returns to this earth, a power will arise in Europe (referred to as a “Beast”) that will consist of ten kings (kingdoms, nations or groups of nations) who surrender their sovereignty to this central authority (Daniel 2:41-43; Revelation 17:7-13). We appear to be witnessing the fragile iron-and-clay nature of the EU and the “growing pains” that will lead to a final configuration.