Italy and Spain’s economies are in dire straits, and the EU is seriously considering bailing them out with a major purchase of national bonds. The all-important caveat may be that Italy and Spain will have to cede control of their fiscal policies to the EU! (Telegraph, August 2, 2012). Time is of the essence regarding saving the Italian and Spanish economies. The Italian Prime Minister Monti has stated that if the EU does not act quickly, a future Italian government will likely be euroskeptic (ibid.). His predecessor, Mr. Berlusconi, previously said that Italy could “go it alone” if the EU does not come through for Italy. Mr. Monti has now taken on the unofficial role of “spokesman” for the Southern EU nations standing up to Germany (Reuters, August 8, 2012). The Bible reveals that a religio-political union will occur in Europe and will most likely be headed up by Germany. This union (the Beast), will be comprised of “ten kings” who will give their power to the Beast power for a time (see Revelation 17). Financial power is one “type” of power that can be given to another leader or country, and we are starting to see how this might happen in Europe. For more information on the formation of the coming European Beast power, be sure to read our insightful booklet on The Beast of Revelation!