Head of World Bank Warns Europe is Heading for Danger Zone
Posted by L A on Saturday, June 2, 2012 Under: Economic Crisis
DailyMail.co.uk (excerpts): The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008. On the bleakest day for the global economy this year, Robert Zoellick said crisis-torn Europe was heading toward the "danger zone."
He alluded to the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.
The flow of money into so-called "safe havens," such as UK, German and US government debt turned into a stampede yesterday. In Berlin, the two-year government bond yield fell below zero for the first time, with the bizarre result that jittery international investors are now paying - rather than being paid - for lending to Germany. Not only did the German two-year bond yield fall below zero for the first time, but the yield on ten-year UK gilts - the benchmark borrowing cost for the British government - hit a record low of 1.44 percent. The yield on the equivalent US treasuries fell to 1.46 percent, the lowest in over 200 years of records.
There was a raft of dismal economic news from around the world, with manufacturing output falling in Britain and Europe, unemployment jumping in the eurozone and America, and fast emerging economies, such as Brazil and China showing signs of running out of steam.
The Dow Jones Industrial Average shed more than 200 points in New York, wiping out all its gains this year.
Desperate: European leaders scrambled to stop the financial crisis in Spain spiraling out of control and infecting other countries such as Italy.
Zoellick said, "Events in Greece could trigger financial fright in Spain, Italy and across the eurozone."
The Bible says concerning the last days, "They will cast their silver in the streets and their gold will be removed; their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord. They shall not satisfy their souls, neither fill their bowels, because it (money) is the stumblingblock of their iniquity" Ezekiel 7:19. There is coming a day soon when gold will be confiscated by the government, as it was during Franklin D. Roosevelt's presidency in 1933, and silver will be worthless due to the collapsed economy. Jesus said, "There will be great tribulation, such as was not since the beginning of the world to this time, no, nor ever shall be" Matthew 24:21.
Nevertheless, the Lord will return for His people, and they will be spared from the wrath of God to come, "Wait for His Son from heaven, whom He raised from the dead, even Jesus, who delivered us from the wrath to come" 1Thessalonians 1:10. Are you prepared for the return of the Lord? If not, please visit the How Can I Be Saved page of this website. God bless you.
He alluded to the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.
The flow of money into so-called "safe havens," such as UK, German and US government debt turned into a stampede yesterday. In Berlin, the two-year government bond yield fell below zero for the first time, with the bizarre result that jittery international investors are now paying - rather than being paid - for lending to Germany. Not only did the German two-year bond yield fall below zero for the first time, but the yield on ten-year UK gilts - the benchmark borrowing cost for the British government - hit a record low of 1.44 percent. The yield on the equivalent US treasuries fell to 1.46 percent, the lowest in over 200 years of records.
There was a raft of dismal economic news from around the world, with manufacturing output falling in Britain and Europe, unemployment jumping in the eurozone and America, and fast emerging economies, such as Brazil and China showing signs of running out of steam.
The Dow Jones Industrial Average shed more than 200 points in New York, wiping out all its gains this year.
Desperate: European leaders scrambled to stop the financial crisis in Spain spiraling out of control and infecting other countries such as Italy.
Zoellick said, "Events in Greece could trigger financial fright in Spain, Italy and across the eurozone."
The Bible says concerning the last days, "They will cast their silver in the streets and their gold will be removed; their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord. They shall not satisfy their souls, neither fill their bowels, because it (money) is the stumblingblock of their iniquity" Ezekiel 7:19. There is coming a day soon when gold will be confiscated by the government, as it was during Franklin D. Roosevelt's presidency in 1933, and silver will be worthless due to the collapsed economy. Jesus said, "There will be great tribulation, such as was not since the beginning of the world to this time, no, nor ever shall be" Matthew 24:21.
Nevertheless, the Lord will return for His people, and they will be spared from the wrath of God to come, "Wait for His Son from heaven, whom He raised from the dead, even Jesus, who delivered us from the wrath to come" 1Thessalonians 1:10. Are you prepared for the return of the Lord? If not, please visit the How Can I Be Saved page of this website. God bless you.
In : Economic Crisis
Tags: "world bank warns of europe's financial crisis" "financial crisis in europe"
