Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
<blockquote>“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>
</blockquote>
Luis deGuindos, Spain’s economy minister, stated today that the country is on the verge of asking for a bailout as reported in various media sources.
Any decision on a bailout request would be dependent on the outcome of audits of all Spanish banks. The results of the audit are not expected until the end of June.
The International Monetary Fund is doing an independent audit of Spain’s banking system.
Spanish government officials are attempting to avoid a bailout from the European Union as any bailout money would come with strict conditions. They are trying to obtain direct injections of funds into banks to avoid the restrictions.
The European Commission is looking at a plan for restrictions on money given to countries including:
• Financial regulators to be more “intrusive” in the running of banks as firms’ stability worsens
• Forcing banks to draw up explicit “recovery” and “resolution” plans in the event of their finances deteriorating
• Countries to enforce the sale of all or a part of failed banks, overriding the rights of shareholders or creditors
• Appointment of a “special manager” at a bank to “restore its financial situation”
• Laying the foundations for an “increasingly integrated EU-level oversight of cross-border entities”
Praying for the entire nation they will humbly seek the Lord.