The United States is not the only country that is driven to yield national sovereignty to the community of nations. The European Union is apparently facing a choice between dismantling the Euro, or ceding all national sovereignty to Brussels. As the White House is determined not to let a good crisis go to waste in growing the federal government, likewise, the EU appears to be using the financial crisis sweeping the eurozone to launch an audacious grab for power over national budgets.
Europe is very important in reading the signs of the times because the government there is a direct extension of the Roman Empire. Daniel 9:26 says, "the people of the prince who is to come shall destroy the city and the sanctuary" (NKJ). In context, the "prince who is to come" is a reference to the Antichrist. The sanctuary in Jerusalem was destroyed by the Romans in 70 AD. So we would expect the Antichrist to come from an extension of the Roman Empire. Since the time of Christ, the Roman Empire, or what became of the Roman Empire, has traded off ruling over Jerusalem with the Ottoman Empire which superseded the Roman Empire in the East.
One could argue that the rule over Jerusalem changed in 1967 when Israel took the city as part of the Six-Day War but the temple mount itself is still in the hands of Gentiles. "Jerusalem will be trampled by Gentiles until the times of the Gentiles are fulfilled" (Luke 21:24). I take it that the times of the Gentiles will be fulfilled at the end of the church age when the Lord raptures the church out of this world. This will be followed by the Antichrist coming to power who will confirm a seven year treaty with Israel enabling them to rebuild their temple in Jerusalem (Daniel 9:27).
The governmental model of the European Union is also an important indicator of the times. The EU is the prototype for how the world will be united under one government ruled by the Antichrist. If the diverse nations of Europe can come together as one, the whole world can. The EU is showing the world how it is possible to reverse the division between nations that God initiated at Babel (see Genesis 11). It is interesting to note that depictions of the Tower of Babel is a is an important symbol of the EU.
Based on what the Bible says will happen, I can with certainty predict that Europe will not let the Euro fail... they will march forward toward increasing centralized power yielding their national sovereignty. Indeed that is what enables the Antichrist to have power over the world... "The ten horns which you saw are ten kings who have received no kingdom as yet, but they receive authority for one hour as kings with the beast. These are of one mind, and they will give their power and authority to the beast" (Revelation 17:12-13).
It is such a pleasure to know what God's Word says will happen and why. The Bible has been a great source of peace for me in the midst of the wild developments we have been seeing in this world.