The “Eurozone crisis” is back in the news. After “Brexit,” a new expression was coined, namely “Itexit.” In fact, others refer to “Grexit” and “Spexit.” They mean thereby that countries such as Italy, Greece or Spain might exit the Eurozone or even the EU.
Now, economic “experts” seem to be convinced that “Itexit” (Italy’s exit from the Eurozone) is a strong possibility.
The Financial Times wrote on November 20:
“After Brexit and Donald Trump, prepare for the return of the Eurozone crisis. If Matteo Renzi, Italian prime minister, loses his constitutional referendum on December 4, I would expect a sequence of events that would raise questions of Italy’s participation in the Eurozone.”
The Telegraph wrote on November 27:
“Italy needs reform and a euro exit is inevitable.”
But how probable is it that Italy will leave the Eurozone and replace the euro with its former national currency, the lira? Der Spiegel wrote on November 27 that an exit from the Eurozone would lead to a dramatic crisis situation in Italy, as inflation would increase; nobody would come to Italy’s rescue (the European Central Bank would be prohibited from helping Italy); and Italy’s astronomical national debt (which is calculated in euros) would still have to be repaid.
There have been voices in the past prognosticating all kinds of fanciful results. They declared forcefully that the euro would fail; that the Eurozone would disintegrate; that the member states would return to their former national currencies; and that the European project was dead. On the other hand, many felt that there would be no Brexit.
As it turned out, they have all been wrong. While current and future political and economic developments might have been miscalculated or misunderstood, the reason why all these speculations have failed is that biblical prophecy had been ignored.
With the same bold certainty with which we proclaimed that the euro will NOT fail; that the Eurozone will NOT disintegrate; that the European project is NOT over; but that there WOULD BE a Brexit; we are stating with the same conviction that Italy will NOT exit the Eurozone, let alone the EU.
The Bible makes it VERY clear that Italy will remain as one of the LEADING nations in the European project—not necessarily from a political or economic standpoint, but surely from an historical and RELIGIOUS standpoint. In fact, the whole European unification project is founded on the Treaty of Rome. The Bible shows that ten nations or groups of nations will emerge in Europe (and to be more precise, from the Eurozone), and Germany and Italy will certainly be among those nations. They will give their power to a charismatic political and military leader who will work hand in hand with a religious leader. The Bible speaks of modern Babylon—a European political, economic and military union under Roman Catholic rule. It identifies Babylon as the city built on seven hills, which reigns over the kings of the earth.
At this point, the Eurozone consists of 19 members. This will change. Politico wrote on October 6: “Nobel-prize winning economist Joseph Stiglitz believes Italy and several other countries could leave the Eurozone within years… ‘There will still be a Eurozone in 10 years, but the question is, what will it look like? It’s very unlikely that it will still have 19 members. It’s difficult to say who will still belong,’ Stiglitz said in an interview with German newspaper Die Welt.”
While Mr. Stiglitz—as so many other “experts”—is clearly wrong insofar as Italy is concerned, he IS correct that the Eurozone will decrease in numbers, and even though we do not know for sure “who will still belong,” we DO know that Italy “WILL still belong.”
Our free booklet, “The Ten European Revivals of the Ancient Roman Empire” tells you why.
