European Union Banks will be brought under centralized control by a new agency supervised by the European Central Bank. The new agency will have power to shut down failing euro zone banks and have a fund to help cover the costs, according to the agreement.
This is the second leg of banking union after supervision by the European Central Bank. Banks will be charged a levy over eight years to provide funding for the agency’s bailouts.
The deal gives the European Central Bank a lot of power. The central bank will have the power to trigger the closure of a bank, limiting the scope for country financing and banking ministers to challenge such a move.
Banking Union is integral to political union. The economic crisis in Europe was created so that a banking union could be facilitated and greater political integration of the nations of Europe could be achieved.
Europe is being forced to come together in the resurrection of the Holy Roman Empire. Keep in mind that in order for there to be a world-wide religion and worship, there must be political and economic world government. Europe is home to the only global religion that has the stature and political potential to rule the new world order and enforce the new world order religion.
“All that dwell upon the earth shall worship him…” Revelation 13:8