Saturday February 28, 2015

// February 20th, 2015 // Daily News

Has Greece’s ‘Lehman moment’ finally arrived?

A key week for Greece’s economic future drew to a close on Friday with the country facing the very real threat that it’s running out of money and key analysts warming to the idea that it could be on its way out of the euro zone.
Euro zone finance ministers are set to meet Friday to discuss Greece’s latest proposals to extend its loan agreement. But with Germany already rejecting the plan, there is very little hope that an agreement will be announced. Another meeting in Brussels for next week was already being touted before Friday’s meeting even began. The main problem for the fiscally disciplined countries like Germany is that, despite the ground Greece has given up in the last week, it is still asking for the bailout loan without all of the strict austerity conditions that come with the money.
Greek economist Elena Panaritis, former member of the Greek Parliament and the World Bank, drew comparisons with the collapse of the Lehman Brothers in 2008. As with the fall of the big U.S. bank, market-watchers feel euro zone policymakers want to show the world they will only be pushed so far — with the result being Greece would be allowed to exit the euro zone.
Panaritis thought there was a “political statement as well as economic statement” being made during the negotiations. Randy Kroszner, a former U.S. Federal Reserve governor and the professor of economics at the University of Chicago Booth School of Business, agreed that there were comparisons between the two events.
“I think there a parallel, but the tools exist if the European Union wants to keep Greece in and if Greece is willing to stay in,” he told CNBC Friday. “Even though it may be quite ugly, the likelihood of complete chaos is much lower. So that gives policymakers more willingness to say ‘Hey, we’ll take that risk’.”

Today’s Inspiration

Your True Value

by Joyce Meyer – posted February 20, 2015

Now therefore, if you will obey My voice in truth and keep My covenant, then you shall be My own peculiar possession and treasure from among and above all peoples; for all the earth is Mine.
– Exodus 19:5

In Exodus 19:5, the Lord tells His people that they are His own “peculiar possession and treasure.” That word applies to us today as much as it did to the children of Israel. In John 3:18, Jesus told Nicodemus that no one who believes in Him will ever be condemned (rejected). You may not feel treasured, or even acceptable, but you are. In Ephesians 1:6 (KJV), Paul says that all of us who believe in Christ have been “accepted in the beloved.” That should give us a sense of personal value and worth.

I remember standing in a prayer line where I overheard a woman next to me telling the pastor who was ministering to her how much she hated and despised herself. The pastor became very firm with her and in a strong manner rebuked her, saying, “Who do you think you are? You have no right to hate yourself. God paid a high price for you and your freedom. He loved you so much that He sent His only Son to die for you, to suffer in your place. You have no right to hate or reject yourself. Your part is to receive what Jesus died to give you!”

The woman was shocked. I was shocked too, just listening. Yet sometimes it takes a strong word to get us to realize the trap that Satan has set for us. Do you lack appreciation for your own value and worth? Surely, you are valuable; otherwise your heavenly Father would not have paid such a heavy price for your redemption.

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