A two-speed Europe is back in the picture after talk from four years ago. The EU will likely split but a core group of nations will remain together in solidarity. For those who follow the written word of God, it could very well be the 10 horns (nations) as written about in Daniel 7 (See also Revelation 17), in Bible prophecy. As hs been documented here, the crisis is forcing a core unit to consider integration as the only answer to its problem. All this is coming falling under Berlin’s leadership. The Fourth Reich has landed and its United States of Europe is coming. The Berlin club put the task in motion and you’ll be seeing this political union with its own EU Army.
The six founding members of the EU have recommitted to building an “ever closer union”, but they have acknowledged differences with other states and for the first time they have backed a “two-speed” Europe.
At informal talks on Tuesday (9 February) in Rome, where the bloc’s founding treaty was signed in 1957, the foreign ministers of Belgium, France, Germany, Italy, Luxembourg and the Netherlands underscored that for them answers to the EU’s challenges lay in more integration, not less.
In a nod to Britain, they acknowledged that not every country should have to agree.
The world is entering a new economic era—one that won’t be defined by America.
This past March marked a radical turning point for the global economy, particularly the United States’ economic dominance.
China proposed the launch of the Asian Infrastructure Investment Bank (aiib)—a new, Chinese-run international bank specifically designed to challenge U.S. global economic leadership. America tried to convince other nations not to agree to join. But it failed—even with its closest allies.
From worries that it would not raise enough funds to concerns other nations would not support it, Beijing was plagued by self-doubt when it first considered setting up the Asian Infrastructure Investment Bank (AIIB) in early 2013, two sources with knowledge of internal discussions said.
However, promises by some Middle East governments to stump up cash and the support of key European nations – to Beijing’s surprise and despite US opposition – proved a turning point in China’s plans to alter the global financial architecture.
The AIIB agreement was signed in Beijing on June 29.
A framework agreement for the operations of the Chinese-led Asian Infrastructure Investment Bank was officially signed in Beijing today, with representatives from the 57 founding members gathering for the ceremony. However, only 50 countries actually signed the agreement – seven (Denmark, Kuwait, Malaysia, the Netherlands, the Philippines, South Africa, and Thailand) have to get the AIIB charter formally passed through domestic processes before they can officially sign. Chinese media said the seven are expected to join by the end of the year (although things may be more complicated in the case of the Philippines).
In fact, many commentators say the AIIB is less about anything wrong with the ADB or the World Bank and more about China’s efforts to increase its voice in global development and financial governance, and even to reshape the financial world order itself.
With Tuesday marking the deadline for nations wishing to join as “founding members” of the new multinational lender, here are the four things you need know about the AIIB… Continue reading →