Europe Faces Historic Test In Euro Crisis

Chancellor Angela Merkel is telling German lawmakers that Europe faces an "existential" test as it works to shore up the euro.

Merkel said today as she addressed the lower house of parliament that the shared currency is in danger, and that failing to meet the challenge would have incalculable consequences.

Parliament was meeting to consider the euro750 billion ($1 trillion) rescue package to help eurozone nations avoid default -- with Germany to contribute at least euro123 billion in loan guarantees. It's expected to vote on Friday.

Merkel said Europe is facing its biggest test in decades. She said: "it is about no more and no less than the preservation of the European idea. That is our historic task; if the euro fails, then Europe fails."

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  • by US citizen for now Location: Washington on May 19, 2010 at 05:58 AM
    The Euro and US dollar will fail and the Bilderberg group, Counsel on Foreign Relations, Club of Rome including the Obama administration & various members in congress have known this for a long time, they're just enabling the crises and will push for a "one world currency & government" Their going eventually call for everyone to receive a micro computer chip which is & I repeat is going to replace all hard currency. It is the number of the beast as God told us in Revelations. People, we're moving closer towards a NWO sooner than you expect. Scoffers who reject this, don't even comment because I've studied on these issues for well over 20 years and the overwhelming evidence is all there. You just ignore it and don't want to receive the truth. Find Jesus and find life everlasting and you'll escape this evil plot coming from satan himself.
  • by Tick-Tock...Riiinnnggg! on May 19, 2010 at 05:55 AM
    40 years ago, my dad said that people should only buy things they have the money for. CASH! Not Credit. "Save you money", he said. "Wait till you can afford it, don't use credit or get a loan." He said most people use to do without if they couldn't afford something. Now it's commonplace to get a $20-$30,000 dollar car loan. How many people have over $10,000 debt on their credit cards alone? The world has been living on borrowed time. Time's up!
  • by Anonymous on May 19, 2010 at 03:51 AM
    Yep,and if obama fails america suceeds and vice versa.

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