A new global crisis is at hand in case the debt crisis of Europe remains unsolved

Cay TV, 4 March 2009

Adnan Oktar: When the global financial crisis started, I said - at the very beginning – that “this will last for seven years and IT WILL PERSIST WITH AN INCREASING SPEED.” I said “ this will bring a severe famine with it” and I said that “precautions must be taken against it and preparation has to be done” and I also told them that the only solution is the Turkish Islamic Uni0on. Otherwise, the world would be ruined, people would become miserable, it will turn into an unprecedented famine in the history of world. The only solution is Turkish Islamic Union. With the abundance, the beauty and peace brought by this union, this situation will be reversed… Allah has created the economical crisis and by no means they can stop it. In the beginning they have disregarded. A few people have given lectures about it, expressing it is “trivial and temporary” but I insisted that It will last seven years. They opposed and claimed it would last a few months. I said “No” and insisted, “It will last seven years”. Now things are happening and developing exactly like I said.

Izmir Chanal 35, 1 February 2009

Adnan Oktar: It will take a bit of time, in my view. I THINK IT WILL TAKE UNTIL 2014. THAT IS WHAT THE COURSE OF EVENTS AND HISTORY SUGGESTS. But my main scale of measurement is the hadith. That is what appears from the measures in the hadith. In other words, the economic crisis will have calmed down and come to a stop in 2014. A strengthening and development will begin in political and economic terms, and the Turkish-Islamic Union will then become a reality, Insha’Allah.

Cay TV, 18 February 2009

Adnan Oktar:  The reason of the economic crisis is again this. In their own eyes they were claiming that were very rational and had very good technical details. AS YOU SEE A FLOOD IN THE TRUE SENSE OF THE WORD HAS BEGUN AND IT CAN IN NO WAY BE STOPPED. Where are their economists, professors, banks, mints, and gold stocks? Why can’t they stop? They cannot stop because they have not made investment into man. These matters can not be resolved by making investment into gold, money or buildings…The solution is to make investment into human beings. The solution lies in being distant to egoism, selfishness, beings ultimately sincere, having fear of Allah, love of Allah, an exuberant love, bond of brotherhood, being compassionate towards the poor, being more sensitive towards them. These are the solutions. Otherwise in a world where egoism and selfishness dominate if mints coin money day and night, if economists work till mornings, they cannot attain a solution. They cannot stop this flood and they cannot. THEY WILL SEE THAT THEY CANNOT STOP IT...

A new global crisis is at hand in case the debt crisis of Europe remains unsolved

Next to Greece, who is head over heels in debt, the financial standing of Italy, Spain, Portugal and Belgium is being closely followed up by the entire world.

There is still an anxiety about the debt crisis that exists in Greece, Portugal and Ireland, as it may spread to Italy and Spain. These five countries keep fighting with deep financial problems and increasing uncertainty in the markets. 

According to Ali Babacan, Deputy Prime Minister of Turkey, there is a possibility of facing a new crisis similar to 2008-2009 period if permanent solutions are not generated.

Since the fall of 2009, the European Union has been struggling with a slow-moving but unshakable crisis over the enormous debts faced by its weakest economies, such as Greece and Portugal, or those most battered by the global recession, like Ireland. 

A series of negotiations, bailouts and austerity packages have failed to stop the slide of investor confidence or to restore the growth needed to give struggling countries a way out of their debt traps. By August 2011 European leaders found themselves scrambling once again to intervene in the markets, this time to protect Italy and Spain, two countries seen as too big to bail out.