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 Europe Scrambles as the Credit Crisis Goes Global


[b]Europe Scrambles as the Credit Crisis Goes Global[/b]

So much for European unity. Less than 24 hours after leaders of the European Union's four largest countries gathered in Paris Saturday to pledge a collective defense in the global financial crisis, the strategy crumbled in the face of a still worsening credit crisis in Europe's banks. German Chancellor Angela Merkel, faced with the breakdown of a government-brokered deal with German banks to save one of Germany's biggest mortgage lenders, announced that all German bank deposits would be guaranteed by the government, causing consternation and anger among her European neighbors, many of which felt compelled to follow suit.

Europe's inability to rise above its "each nation for itself" mode bodes ill for the prospect of broader international coordination to shore up credit markets in the face of a global crisis of financial confidence. If countries that have long vaunted their joint destinies can't ...

read more: www.time.com


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SI Moderator - Greg Gordon

 2008/10/6 13:10Profile
KingJimmy
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Joined: 2003/5/8
Posts: 4419
Charlotte, NC

 Re: Europe Scrambles as the Credit Crisis Goes Global

Everything that can be shaken will be shaken... the question is, will you be?


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Jimmy H

 2008/10/6 13:13Profile
Fuegodedios
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Joined: 2007/2/21
Posts: 220
Richmond, VA

 Re:

Amen Brother Jimmy


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Demetrius

 2008/10/6 14:21Profile
JoanM
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Joined: 2008/4/7
Posts: 797


 Re:

I think I posted this on the wrong thread.

The opportunity (privilege) to gather with so many believers seeking the presence of God in Atlanta and Greenock may not be so open in the future. Past time to abandon all our back-up plans of all sorts.

My portion of the Psalms today was 129-131. 1000 children humbling themselves before our Father.

 2008/10/6 15:57Profile
menderofnets
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Joined: 2008/9/26
Posts: 73
South Yorkshire, UK

 Re: Europe scrambles........

The prosperity the West has enjoyed for so long partially because of the history of Christianity in the West is being shaken. Whole nations suffer because of money, which is fickle and must never be treated as 'what makes the world go round'. When the cry changed from 'In God we Trust' to 'In the forces of the glorious market economy we trust' we lost the plot. As bad gets worse let us humble ourselves before God asking His help to be good stewards of everything He has given us, place our trust in Him and pray that those with the power to make real and significant change turn to God as well. The only real hope for the world has never changed, and can always be relied on!


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Jamie Adam

 2008/10/7 8:47Profile





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