The eyes of arrogant people will be humbled. High and mighty people will be brought down. On that day the LORD alone will be honored…
Britain ‘will join euro before long’, says German finance minister
Britain will have to abandon the pound and join the single currency “faster than people think”, Germany’s finance minister has said.
By Bruno Waterfield, in Brussels and Christopher Hope in Berlin 10:44PM GMT 18 Nov 2011
Wolfgang Schäuble said that, despite the current crisis in the eurozone, the euro will ultimately emerge as the common currency of the entire European Union. He said he “respects” Britain’s decision to keep the pound, but insisted that the survival and eventual stabilisation of the euro will convince non-members to join the currency club. “This may happen more quickly than some people in the British Isles currently believe,” he added.
Mr Schäuble also said Germany will stand firm on its call for a financial transaction tax that Britain believes would badly harm the City of London.
Fears over the eurozone crisis saw stock markets fall again yesterday. The FTSE 100 closed down 1.1 per cent. French and German shares also fell.
Meanwhile, a leaked document seen by The Daily Telegraph yesterday showed Berlin has drawn up radical plans for an intrusive new European body which will be able to intervene directly in beleaguered countries.
Sir John Major, the former prime minister, warned last night that the growing integration of the eurozone nations threatens democracy in those countries. He told Al Jazeera television that richer euro members led by Germany and France will “insist on moving towards what we call fiscal union. By that I mean common control over budgets and fiscal deficits”.
I have seen the evil-doer in great power, covering the earth like a great tree. But he came to an end, and there was no sign of him; I made a search for him and he was not there…