**** "... debt crisis 'threatens collapse of EU' " !! ****

**** Re-read of associated posting relating to "CODEX ALIMENTARIUS" on 18 NOVEMBER, 2010.

Nouriel Roubini, professor of economics at New York University wrote in the Financial Times on Tuesday, "Put simply, the Irish-like the Greeks - are on a path to near or complete insolvency.

"The reason the EU has so far decided to provide emergency financing to Greece and Ireland is . . . because of concerns about systemic contagion."
GUARDIAN -THE AGE, THURSDAY, NOVEMBER 18, 2010

* Contagion .. passing on of disease by touch, contact; physical or moral pestilence! - (Collins English Gem Dictionary)


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** ALSO '... baulk at a second euro bailout'.

"... Despite the predictions by some economists that Germany might choose to opt out of the euro zone, few voices in Germany and certainly no political parties are calling for such a dramatic move.

Instead Chancellor Merkel has declared the fight to save the euro as nothing less than the struggle for peace and protection against war in Europe.

"We're talking about something huge here," she said at the annual gathering of her CDU party this week. "This is about the European ideal of peace."

She added that "amid all the talk of crisis mechanisms, voting rights, contracts, stability culture, rescue packages, the IMF, currency, the European central bank", it was "easy to forget" the reason the euro had been founded in the first place.

"If the euro fails, Europe fails," she said in a sound bite that, whatever the outcome of the current crisis, is likely to become one of her more memorable lines. GUARDIAN - THE AGE, THURSDAY, NOVEMBER 18, 2010

* "THAT fiery FURNACE" .. JOY in HIS presence ...

"BECAUSE of the Lord's great love we are not consumed, for His compassions never fail. They are new every morning" (LAMENTATIONS 3:22-23).

"WHILE visiting a glass factory in Monterrey, Mexico, I watched with great interest as the skillful artist worked. WITH long tongs he first held a piece of glass in a furnace until it began to melt. REMOVING it, he went quickly to work. WITH simple tools and with lightning speed, he created a beautiful blown-glass ornament. THE finished product became a reality only after the glass was subjected to the intense heat of the furnace.

EVEN though we experience the heat of many trials, God is there to shape us in His beauty that we may be useful objects for His glory. THAT fiery furnace may be the loss of a loved one, a disaster resulting in loss of possessions, a financial crisis or the deep sadness of knowing a family member is unsaved. OUR journey here may sometimes be lonely; there may be bitter tears of disappointment and pain, yet it is in the crucible of lfe's testings that we are reminded of the love of our Heavenly Father.

WHAT a comfort it is to know that His mercies are new every morning and that there is real joy in His presence". KATE ESPARZA