By Samson Dada
September 2011 edition
Clayton Methodist Church Magazine
Whether it is the Eurozone crisis or fears of the global economy re-entering a second recession – the world is becoming increasingly unstable.
The future of the Euro currency is threatened by the economic difficulties of Greece, Ireland, Italy and Portugal, who have large debts, and the fact that European politicians are unwilling to allow Greece to default, despite knowing that she will never be able to repay her debts.
We see an unstable world in our fragile global economy and volatile stock market. Global financial services firm, Morgan Stanley has said that the U.S. and Europe are “dangerously close to recession,” and in August, the stock market reduced the value of UK pension’s savings by more than £120 million.
In no other industry, could the value of a commodity fall so dramatically in one day. This is worrying because it may cause people to change their retirement plans and work longer if their pensions are insufficient to fund a basic standard of living.
Who would have predicted that Anders Behring Breivik would kill 85 innocent Norwegians, or that riots would break out in towns and cities across the country?
Both events shocked the nation and left me wondering whether the world was descending into a state of chaos, but then I thought that if we prayed, then the global economy would start growing and putting more people back to work.
So, let’s pray. Let’s pray for a more stable world to allow people to lead a peaceful and happy life.