Greece and its debt

Greece is a country with a glorious if uneven past. The world owes a debt of gratitude for its ancient contributions to human social and intellectual development. The Macedonian king, Alexander the Great, spread Hellenic rule and culture to Asia Minor, Persian Babylonia and India in the 4th century B.C.. Rome overtook Greece in the mid 2nd century B.C. establishing Greco-Roman influence in its eastern domain. Greece became part of the Byzantine Empire in the late 4th century A.D.. As it ended in the mid 15th century A.D., Greece came under Ottaman rule. In the early 19th century Greece regained its independence after being ruled by outside powers for over two millennia. In 1981, Greece became a member state of the European Union. While being economically developed, in the past few years Greece has fallen on hard times. The country is plagued by high government debts, a weak banking system, economic recession, rising unemployment and civil unrest. Interestingly, there are numerous episodes of economic and political instability in the country´s modern history. In this article, the present condition of the Greek economy is examined in terms of the natal potential seen in a horoscope that has recently been proposed for the country.

Overview
Greece, officially the Hellenic Republic, is a country in Southern Europe. Modern Greece traces its roots to the civilization of ancient Greece, generally considered the cradle of Western civilization. As such it is the birthplace of democracy, Western philosophy and the Olympic Games. Greece was part of the Byzantine Empire from around 395 A.D. to 1453 A.D. and after that it was part of the Ottoman Empire, or until 1821. The modern Greek state had its origins in the Greek War of Independence (1821 – 1832). Greece has 11.3 million inhabitants (m.i) in a country covernig 132.000 square kilometers (51.000 square miles). The population is ethnically homogenous. Greece has borders with Albania (3.2 m.i.), the Republic of Macedonia (2.0 m.i.) and Bulgaria (7.6 m.i) to the north, and Turkey (71.0 m.i.) to the east. The Aegean Sea lies to the east of mainland Greece, the Ionian Sea to the west, and the Mediterranean Sea to the south. Greece has the 11th longest coastline in the world at 13.700 km (8,500 mi) in length, featuring over 1.400 islands - one fifth of which is inhabited. Eighty percent of Greece consists of mountains, of which Mount Olympus is the highest at 2,917 m (9,570 ft). Athens is the nation‘s capital and largest city. Greece is a developed country with a high income level (€21.900 per capita) in a global comparison and amounting to 91% of the average level of the EU (€24.000). The income is twice the amount of the poorest EU member state, Bulgaria (€10.700), but only a third of the richest, Luxembourg (€66.000). The distribution of income is one of the most unequal in the EU. Greece is a member of the European Union since 1981 and the Euro-Area since 2001. It is the largest economy of the Balkans but less than one third of the size of the Turkish economy. At the same time, there is a less flattering side to the economy, which is discussed below.

Founding of modern Greece
The culture of Greece has evolved over thousands of years, beginning in Mycenaean Greece, continuing most notably into Classical Greece, through the influence of the Roman Empire and its Greek Eastern successor the Byzantine Empire. Other cultures and states such as Latin and Frankish states, the Ottoman Empire, the Venetian Republic, Genoese Republic, and British Empire have also left their influence on modern Greek culture, but historians credit the Greek War of Independence with revitalising Greece and giving birth to a single entity of its multi-faceted culture. The first revolt of the Greek War of Independence began on 6 March 1821 in the Danubian Principalities, but it was soon put down by the Ottomans. As the civil war dragged on assistance arrived from several European powers, Russia, United Kingdom and France against the Ottoman Empire. With the Treaty of London on 3 February 1830, Greece was recognized as an independent State.[1] However, it did not have a government until one year later.[2] After years of negotiation, Greece was finally recognized as an independent nation with set borders in May 1832. As co-guarantors of the monarchy, the Great Powers also agreed to guarantee a loan of 60 million francs to the new king, empowering their ambassadors in the Ottoman capital to secure the end of the war. Under the protocol signed on 7 May 1832 between Bavaria and the protecting powers, Greece was defined as a "monarchical and independent state" but was to pay an indemnity to the Ottoman Porte. One historian notes that while the creation of the state was a success the ideals of a Greek nation, within and beyond the borders of Greece, were not realised.[3]

Birth of modern Greece
A very plausible candidate for a national horoscope for Greece has come to light. The date is January 13, 1822 and the place is Epidaurus, Greece (37N38, 23E08). The event is the formal written declaration of independence from the Turks by the Greek assembly. The astrological significance of this event was first recognised by Greek astrologer Thomas Gazis, who rectified the time to 10.00 a.m. on that day giving 26° Aquarius rising (sidereal) and introduced the horoscope thus:

"Which is Greece’s birth date? Some 20 years ago it came to my attention the copy of an old document, that I felt very significant! It was entitled «Declaration of the Political Existence and Independence of the Greek Nation». Let us see what this document says: «In the name of the Holy and Indivisible Trinity, the Greek Nation that in the last 4 centuries has been under the horrible Turkish rule, unable to bear any more the heavy and unprecedented tyranny, which we have finally thrown off with huge sacrifices, proclaims today - through its legitimate delegates here assembled - in front of all humans and God, its political existence and Independence! Epidaurus January 1st 1822 [in the Julian calendar]». There is no doubt that this declaration constitutes the birth certificate of modern Greece! It fulfils all the criteria we set up and unambiguously states the creation of the modern country of Greece. The birthday of Greece is on the 13th of January [in the Gregorian calendar]." [4]

Horoscope of Greece
26° Aquarius rises in the ascendant of this tentative horoscope of Greece. This sign would be expected to describe the main traits in the collective personality of the nation. Aquarius is an air sign and is ruled by Saturn. This sign signifes dutifulness and responsibility. Those with Aquarius in the first house tend to be independent and willing to buck the trend if they think it is the right thing to do. The sign impels towards industriousness, perserverance, focus and forethought. There is an urge to help the underdog. The sign predisposes to new ideas, with an emphasis on humanity and science. The sign can also predispose to unconventional, stubborn, rigid or impractical ideas. If Saturn is weak in the chart there may be a tendency for suspiciousness and lethargy. Aries, ruled by Mars, falls into the third house of this horoscope. This gives a tendency for a focus on communications and new ideas. Libra, ruled by Venus, falls into the 9th house, which promises good fortune.[5] By comparison, Cancer rises in the ascendant of the USA horsocope, giving a regal and caring nature to the collective personality of Americans. Virgo rises in the British horoscope imbuing the collective personality with analytical acuity and discrimination. Taurus rises in the horoscope of India, giving a earthy and sensate nature to the collective personality.

As Aquarius is in the 1st house of the Greek horoscope, the financial position is seen to be ruled by the following houses and their lords:

• 6th lord Moon indicates financial position.
• 9th lord Venus indicates fortune.
• 11th lord Jupiter indicates income and hopes.
• 8th lord Mercury indicates easy gains.

As per the Systems‘ Approach (SA), there are no Moolatrikona signs in the 2nd house of wealth, 4th house of fixed assets, or 5th houses of speculation. Hence, these areas of life are not indicated as special problems in the national life. The only exception is if planets are placed in these houses or aspecting them. This can make a significant difference for their indications.

Saturn as 1st lord is placed in the 2nd house, giving status associated with the self. As Saturn is in old age, the dynamism is reduced. Moreover, the status is linked to ancient things, as that is a general indication of Saturn. Further, as Saturn is in the most effective point (MEP, or near the rising degree) of the 2nd house, its influence is greater. It is thus favourably influencing also the 4th house of assets, the 8th house of easy gains and 11th house of income. The influence is further helped by the good placement of 9th lord Venus in the 1st house of self. While Rahu, the lord of manipulation, is also there, bringing some problems, its influence is minimal in the horoscope.

6th lord Moon is badly placed in the 8th house, creating obstructions for the financial position. This placement will be tested in the coming five months.

9th lord Venus is well placed in the 1st house, receiving an aspect from Mars as 3rd lord of initiative in the 7th house of foreign agreements. Good luck is seen for Greece from an enterprising tourism sector and foreign involvements.

11th house Jupiter is well placed in the 3rd house of initiative. However, its power is very limited as it is in deep infancy. Fortunately, Jupiter is conjunct the 1st lord Saturn and is within the MEP of the 2nd house, also giving a moderate beneficial influence on the 2nd house of wealth, but also on the 6th house of financial position and conflict, 8th house of easy gains, and 10th house of position in the world. However, Jupiter is further undermined by an afflicting aspect from Ketu in the 7th house. Jupiter‘s 11th house is further afflicted by 8th lord Mercury, creating obstructions and endings for income and hopes. Mercury also afflicts the 5th house of speculation. Mercury is also harmed by its own destructive power, being placed in the MEP. Hence, the easy gains are reduced. The horoscope is running the Mercury-Mercury period since August 2011, suggesting that obstructions and endings involving incomes & hopes and speculation & management have intensified since then.

The strength of Jupiter and Sun, the dual indicators of banking, is not good at all in this chart. This is consistent with what we know about the the Greek banks: they are technically bankrupt but have been kept afloat by loans from the EU. The 11th lord Jupiter, Sun and Moon are the indicators of currency strength in this horoscope. The drachma was always a weak currency and if Greece were forced to leave the Euro-Area and take up the drachma again, it would likely collapse in value. The weakness of Sun and Moon, the indicators of government also suggest weakness on this front. In fact, the present administration of professionals has been appointed without democratic legitimacy to clean up years of accounting gimmicks and bad governance. As the Moon is also representing democratic government, the coming stationary aspect of Ketu in the 4th house of communal harmony suggests sudden upset over this state of affairs, the lack of democratic legitimacy. There are elections now scheduled for April 2012, when the aspect of transit Ketu to natal Moon will be applying. Ketu rules a sense of isolation and estrangement, which can result in sudden violent or unexpected acts.

3rd lord Mars is well placed in the 7th house in mutual aspect with the lord of luck, which is a very helpful combination. It gives fortune from taking action and gives opportunities for the same. It is a good aspect for the military, police and athletes and artists and women. However, the beneficience of this yoga is somewhat reduced by the bad placement of 7th lord Sun in the 12th house of losses. The weakness of the Sun suggests foreign agreements can lead to losses. The placement of Mars explains the Greek show of military bravery even in the face of being massively outnumbered.

Political instability

Cases of political instability in the 20th century history of Greece are legion. Following the collapse of the Ottoman Empire, the Greeks launched the expansionist Greco-Turkish War (1919–1922) to protect Greek minorities. The Turks rallied and repelled the invasion of the Greeks, which thus lost the war. A period of political instability ensued, with the Greeks voting to abolish the monarchy and make the country a republic in 1924. In 1935, however, the monarchy was restored. In 1936, General Metaxas, after being appointed prime minister by the king, established a right-wing dictatorship. In 1940, Mussolini's fascist forces attacked Greece from Italian-held Albania, but the Greeks repelled them. In 1941, Metaxas died and a short while later Greece fell to Nazi Germany, with King George II and the government fleeing to Egypt. More than 100,000 died in a famine. Following WW II, civil war raged in Greece 1944 from to 1949 between communist and anticommunist forces. This led to economic devastation and severe social tensions between rightists and largely communist leftists for the next thirty years. A new political period of crisis developed in Greece on 15 July 1965 after the resignation of Prime Minister Papandreou. Political renegades within the same party, the “Apostates", were appointed by the king to replace him, heralding a prolonged period of political instability, which weakened the fragile post-Civil War order. A military junta seized power in a coup d'état on 21 April 1967. The King began by cooperating with the junta but then launched a counter-coup on 13 December 1967, which ended in failure and he then fled the country with his family in the early hours of 14 December – never to return as king. In 1973, Greece is declared a republic, the monarchy is abolished and Papadopoulos assumes the presidency. Opposition to military rule leads to increasing unrest. Papadopoulos is overthrown in bloodless coup by Brigadier-General Demetrios Ioannidis, commander of the military police. He partially restores civilian rule but retains large measure of power. In 1974, an Athens-backed coup against President Makarios of Cyprus is followed by Turkish invasion and occupation of north of the island. Ioannidis government collapses. Exiled Karamanlis recalled and sworn in as prime minister. Referendum rejects restoration of monarchy. Civil unrest increases, highlighted by the Athens Polytechnic uprising in the early hours of Saturday, 17 November 1973, which is suppressed by the military. After losing any claim to legitimacy, the rule of the military junta ends in July 1974. In 1975, a new constitution declares Greece a parliamentary republic with some executive powers vested in a president.

The Economy and its problems
Greece's main industries are tourism, shipping, industrial products, food and tobacco processing, textiles, chemicals, metal products, mining and petroleum. Tourism accounts for around 15% of the national GDP, with close to 20 million foreign visitors in 2009. The shipping industry has also been a successful sector in the economy. Greek agriculture employs 12% of the total labor force and produces 3.6% of the national GDP. The big secret of Greek economy is that with EU funds, civil service jobs have increased sharply. Apparently, the development aid and loans have raised the income level above its natural state. This seems to be the reason behind the fact that there is little impetus for people to plan for their future and there seems to be a lack of vision for the country by the politicians.[6] The Greek economy has suffered from external imbalances, which is traced to a lack of flexibility in both product and labour markets. There is a lack of innovation, such that overall productivity growth is sub-standard. As a result, inflation has been higher in Greece than in the euro area, which explains the erosion of competitiveness. Unemployment, especially of the young, is very high in Greece. Greeks are well educated by international standards. Nevertheless, there are labour shortages in specific sectors. It seems the Greeks are not educating themselves for the jobs on offer. Due to labour market rigidities, the reallocation of labour between sectors keeps unemployment high. The problem could be linked to skill mismatches, between the skills in supply and what skills the firms need. Incomes in Greece are fairly low compared to many other well to do EU countries. The dispersion of incomes in Greece is also wide. In other words, there is a high degree of income inequality. There is a link between the two, such that the greater the inequality the lower the income level.[7] Such a situation breeds discontent and extremism in the social outlook. The labour force participation is low by EU standards, especially of women. [8] .

Some say Greece is in crisis today due to lack of responsibility of the citizens. Greeks see the state as an income provider and do not feel an obligation to it. Accordingly, they do not contribute their fair share of income to taxes needed to keep their state fiscally sound. Tax evasion and bribery appear to be common in society. This cultural phenomenon apparently goes back to the Ottoman period, when Greek people began hiding a part of their income in order to avoid paying taxes on it. Katsios (2006) argues that there is a link between the underground economy and corruption in Greece. Tax and national insurance burdens and intensity of regulations in Greece also seem to motivate people to bribe government officials. In order to avoid the bribery and regulation a shadow economy is complementary to the “corrupt state”.[9] Moreover, a vast range of governmental activities is found to distort and weaken the allocative, redistributional and stabilising role of government. Clearly, such corruption needs to be stamped out at the highest level of government first, then throughout society. The consistent lack of discipline in government finances, has resulted in recurring calls for prudent fiscal policies in order to ensure a balanced position. Improved tax collection and better functioning of the public administration are needed to strengthen public resources, which need to be channeled towards investment in knowledge, human and physical capital. The IMF and EU see such reforms as necessary to increase the growth potential of the economy and improve its attractiveness for productive investment in the long run. Greece also needs to focus on all round development, with less inequality, for a more prosperous and happy society.

International agreements
In 1981 Greece joined the EU. With the Maastricht Treaty, EU structural funds have flowed into the Greek economy with the aim to lift its low income level and bring it closer to the EU average. On January 1, 2002, the Euro replaced the drachma as the currency in circulation in Greece. In 2004 December, the European Commission issued a formal warning after Greece was found to have falsified budget deficit data in the run-up to joining Euro-Area. On April 22, 2010, Greece announced that its budget deficit figures for 2009 had been underestimated, with the deficit and debt levels increasing significantly. The revelation caused the debt crisis in the Euro-Area to sharply deepen.[10] Such problems are consistent with the influence of Mercury in the horoscope and the weakness of Sun and Moon, indicating poor governance of the country.

Debt crisis and civil unrest
Greece also has a history of borrowing large amounts of funds abroad. This is reflecting the good fortune seen in the horoscope for Greece from international involvements. At the same time, there are problems linked to the debt and Greece's international obligations. The debt crisis is not only linked to bad management of public finances but importantly it is linked to the government support of a failing banking system. However, the associated rise in debt made fiscal austerity ever more important to assure international creditors that the government could service its debts. In January 2010, the government announced a second round of tough austerity measures, including public sector pay cuts, fuel increases, and a crackdown on tax evasion. In February 2010, the government austerity measures prompted a series of general strikes and protests that continued into March. In March 2010, PM George Papandreou likened the budget crisis to "wartime situation", announcing a third round of tax rises and spending cuts totaling €5 billion. In April/May 2010, fears of a possible default on Greece's debts prompted Euro-Area countries to approve a €110 billion rescue package for the country. As part of the bailout deal, PM Papandreou announced a round of even more stringent austerity measures. Trade unions called a general strike in protest. In October 2010, the government announced new, tougher, austerity measures in the 2011 draft budget, including new taxes and higher rate of VAT. In February 2011, international lenders said austerity measures so far implemented did not go far enough, and that Greece must speed up reforms to get its finances back on track. In June 2011, there was another 24-hour general strike. Tens of thousands of protesters marched on parliament to oppose government efforts to pass new austerity laws. In July 2011, the crisis began to deepen. European Union leaders agreed a major bailout for Greece over its debt crisis by channeling €109 billion through the European Financial Stability Facility. The solution assumed “voluntary writedowns“ of the debt held by private banks, which ended up being equivalent to 70%. All three main credit ratings agencies cut Greece's rating to a level associated with a substantial risk of default. In September 2011, the credit rating agency Moody's downgraded eight Greek banks due to concerns over Greece's ability to pay back its debts. In October 2011, Eurozone leaders and private banks agreed to a 50% debt write-off for Greece in return for further austerity measures. PM Papandreou cast the deal into doubt by announcing a referendum on the rescue package. In November 2011, faced with a storm of criticism over his referendum plan, Mr. Papandreou withdrew it and announced his resignation. A government of national unity was formed after talks between leaders of the governing Socialist Pasok, the center-right New Democracy party and the nationalist Laos party. Lucas Papademos, a former head of the Bank of Greece, became interim prime minister with the task of getting the country back on track in time for elections scheduled provisionally for the spring of 2012. In January 2012, debt rescheduling talks with Greece's private creditors faltered, endangering the €130 billion EU/IMF rescue package that Greece needs to meet its next debt repayment deadline in March. In February 2012, against a background of violent protests on the streets of Athens, the Greek parliament approved a new package of tough austerity measures agreed with the EU as the price of a €130 billion bailout. At the same time, political determination to avoid the stigma of default appears to have waned as the Greek government retroactively inserted collective-action clauses into the bond terms, suggesting the government will demand further writedowns. As a consequence, Standard & Poor’s and Moody's downgraded the nation's credit rating in late February and early March 2012 implying the government is officially in default.[11] The Greek economy has been in recession for five years and the ongoing cutbacks in public services and benefits in recent years have resulted in recurring bouts of civil unrest, sometimes violent.

The civil unrest goes back to before the outbreak of the debt crisis. In March 2005, trade unions launched 24-hour strikes in protest at rising unemployment and high inflation. In December 2005, amid protest strikes by transport workers, parliament approved changes to labour laws, including an end to jobs for life in the public sector. The plans sparked industrial action. In March 2006, public sector workers struck over pay and in protest at government plans to scrap job security laws and intensify privatisation. In March 2008, parliament narrowly passed the government's controversial pension reform bill in face of general public sector strike and mass protests. In October 2008, hundreds of thousands of public-sector employees and professionals went on strike in protest at privatisation, pay ceilings and pension reform. In December 2008, students and young people took to city streets in nationwide protests and riots over the police killing of a 15-year-old boy in Athens. Major public-sector strikes coincided with increased pressure on the government over its economic policies. The recession from 2006 to 2011 is associated with the Rahu and Jupiter sub-periods of the Saturn major period. Now the Mercury major period has started, the difficulties are likely to continue during the Mercury and Ketu sub-periods lasting through 2014.

Astrologically, the problems with social unrest are easy to see in the horoscope. First, the 4th, 2nd and 5th houses do not contain Moolatrikona signs, the rulership for communal harmony is shifted more to the 6th house and its ruler, the Moon. Natally, Moon is placed in the 8th house of obstacles and endings, suggesting plenty of difficulty for the communal harmonyand debts (as Moon also rules financial solvency). Second, the other houses continue to be important for this indication but only if they are afflicted or occupied by a functional malefic planet. The only such affliction in the horoscope is the aspect of 8th lord Mercury to the 5th house. Accordingly, we would therefore expect an underlying tendency for problems with communal harmony in Greece linked to the indications of the 5th house, such as young people and universities as well as speculation and morals of the country. Indeed, the problems of unrest have primarily been linked to two things, the debt crisis and young people objecting to injustices.

Astrology of significant historical events

ASSASSINATION OF HEAD OF STATE

The murder of Count Ioannis Antonios Kapodistrias the first head of state of independent Greece on October 9, 1831, shows up strongly in the horoscope. Mars-Mars period was operating. There was a heavy loading of planets in the 8th and 12th houses, with transit Rahu at 28° Cancer and 6th house MEP afflicting Jupiter and Saturn in the 2nd house MEP – following a transit station at 0° Leo and Aquarius. Transit Rahu and Ketu were both afflicting the 12th house, containing the Sun and transit Ketu was aspecting transit Sun and the 8th house containing also transit Mars.

ASSASSINATION OF KING

King George I was shot and killed in Thessaloniki on March 18, 1913 by a purported vagrant. Mercury Rahu period was operating. Transit stationary Ketu at 10° 29‘ Virgo was conjunct natal 6th lord Moon at 10° 30‘ Virgo. Transit stationary Rahu also afflicted natal Moon and transit Moon at 11° Cancer and 6th house. Transit 7th lord Sun was at 4° 51‘ Pisces and 2nd house and transit 8th lord Mercury was at 19° 15‘ Pisces.

DEFEAT IN WAR

The Greeks lost the Greco-Turkish War on August 30, 1922 when the Turks defeated the Greek army decisively at the Battle of Dumlupınar. Venus-Mars period was operating. Transit nodes at 7° 13‘ Virgo was conjunct natal 6th lord Moon at 10° 30‘ Virgo and transit 8th lord Mercury at 3° 28‘ Virgo. Many planets were in the 8th house.

DEFEAT IN WAR
During World War II, Greece was invaded and conquered by the axis powers. Perhaps the most dramatic event was the fall of Athens, which took place on 27 April 1941. The Sun-Venus period was operating. Transit stationary Ketu at 8° 25‘ Pisces and transit stationary Rahu at 8° 25‘ Virgo and 8th house were conjunct natal 6th lord Moon at 10° 31‘ Virgo. 8th lord Mercury at 3° Aries and 3rd house was afflicted by natal Ketu at 4° Leo and 7th house. Transit 7th lord Sun and transit 9th lord Venus were conjunct in the 3rd house, along with transit 6th lord Moon and transit 1st lord Saturn in the MEP. The Moon major period began in August 1941, which is consistent with Greece being under military occupation as Moon rules the 6th house of conflict. Moreover, Moon is placed in the 8th house of obstacles and this period involved much suffering by the Greek population. The occupation ended in October 1944, when the Jupiter sub-period was underway.

MILITARY REGIME TAKES POWER

A coup d'état led by a group of colonels took place on 21 April 1967. Rahu-Mercury period was operating. This dual malefic period would tend to be difficult, especially the sub-period of Mercury. There was political chaos which the coup leaders aimed to end. Transit 7th lord Sun was at 7° Aries under the aspect of natal Ketu at 4° Leo and 7th house. Transit 3rd lord Mars at 29° Virgo was weak in old age in 8th house while opposite natal Saturn and natal Jupiter.

GOVERNMENT BANKRUPTCY

Now that Greece is technically bankrupt, one test of this horoscope would be to consider the outcomes in the prior Mercury-Mercury period from August 1891-January 1894. In particular, it is of interest that this prior period was also involved in a bankruptcy. Indeed, by the 1890s Greece was virtually bankrupt, and public insolvency was declared in 1893. The default took place on December 10, 1893, when the government declared it could not longer service the debts.[12] Transit Rahu at 27° 20' Pisces was stationary conjunct the MEP of the 2nd house during the autumn months of 1893, while Ketu at 27° 20' Virgo was afflicting the 8th house. At the time of the official declaration, these planets had progressed to 25° 10'. This is a good fit for this historical event.

Mercury-Mercury period

The 26° Aquarius horoscope offers scope to explain the present debt crisis of Greece, especially from August 2011 when the Mercury - Mercury period began. Mercury is 8th lord of obstructions and endings. It is placed in the MEP of the 11th house of income, thus afflicting the 11th house of income and 5th house of speculation. 11th lord Jupiter is placed in 0° 17' Aries and 3rd house. It is aspected by natal Ketu at 4° 21' Leo and 7th house. This suggests that the incomes of people in Greece are low, based on self-effort and vulnerable to sudden upsets. Recently, the Greek government made an agreement to impose harsh fiscal austerity in exchange for huge loans from the EU to salvage its debts and banking system. We can see the easy gains for Greece from the influence of 8th lord in the horoscope. Moreover, with 1st lord Saturn placed in the 2nd house MEP of the chart, albeit in old age at 28° 54' Pisces, this gives status linked to self and old things. Indeed, Greece is considered not only the cradle of democracy in the world but the source of Western civilisation. These two placements also show the mixed influence of the neighbors in the horoscope. Indeed, Greece has been in a contentious relationship with Turkey over control of the island Cyprus. Greece is now battling to salvage its place in the European Union.

The outlook in coming months is anything but hopeful. In the horoscope, 6th lord Moon, which rules financial stability, is placed in the 8th house, suggesting that debt becomes a source of obstructions and endings. The coming station of transit Ketu at 10° 20' Taurus and 4th house, in aspect to natal Moon at 10° 30' Virgo and 8th house, promises to bring sudden, explosive events to Greece, involving the debts. As Moon is also the general indicator of the public mood, and is placed in the house of the belief of the public in its government, we may expect a violent rupture in this regard in coming months. As the Moon is a royal planet, it become the kings consort in the royal cabinet. Hence, this will likely be a very challenging time for the government.

On February 20, 2012, a financial rescue deal was announced for Greece, which is aimed at bringing Greek government debt down to 120% of GDP by 2020. The rescue package has been criticised, with some suggesting “The sad truth is that fixing Greece was never the rescue mission’s goal. The goal was to prevent, or at least stem, euro zone debt contagion; to slow the run on the Greek banks for fear that the bank-run could hit other weak countries; to prevent Greece from high-tailing it out of the euro zone and printing drachmas; and to broker a “voluntary” peace agreement with Greek bondholders.“[13] Not surprisingly, the financial outlook for Greece continues to dim. On March 3, 2012, despite the efforts of EU and Greek politicians to stabilise the situation, the US credit rating agency Moody's has announced it is downgrading Greek debt to the lowest level on its scale - in a warning of default. Clearly, this is yet another setback for the Greek government and the EU. Indeed, as discussed in earlier messages, the tentative horoscopes for both entities suggest ongoing financial difficulties, despite the efforts. Further, given the present period and transit influences, we can say that this horoscope suggests a very difficult time in coming months and into the summer of 2012, while the nodes are stationary at 10° 30‘ Scorpio and Taurus. We can even predict that the likelihood of the government going bankrupt is increased considerably and/or that the government is hit by a very serious crisis. All of this would have serious repercussions for the communal harmony.

As for the continued membership of the Greece in the Euro, that will certainly continue to be tested. It is good that natal 1st lord Saturn is not being tested in the forthcoming transits. Moreover, the cost of such a setback to the EU also needs to be considered. I have earlier predicted based on the tentative horoscope for the EU that "It would not surprise me if the EU would be down-scaled and its goals revised in the coming few years." However, it is hard to say if this involves Greece leaving the Euro zone, as there could be significant costs involved in that for other member countries. At present, I find it likelier that Greece continues in the Euro, by hook or crook, by being helped to avoid bankruptcy, in name at least, and thus be able to continue in the Euro-Area. The risk of some sort of social meltdown in Greece is, however, likely this summer. A new government could come to power later in the year and it could then decide to revise the country's foreign agreements and obligations. This, however, is all quite speculative.

On February 29, 2012, Astrologer & Author, V. K. Choudhry gave his view on this chart:

“The chart can be considered for future predictions. Weakness of Jupiter and affliction to the eleventh house by a Rahu like planet speaks for the general belief of the people. Weak Sun and the Moon also speak for lack of organisation. As currently the sub period of Mercury is running in the main period of Mercury the outlook for Greece is not good.“

Conclusion
This horoscope seems to reflect well the events of Greek national life. At the same time, it does not paint a hopeful picture for the financial or political position of Greece in the summer of 2012 when the Mercury-Mercury period is operating and difficult transits are felt. Venus, Mars and Saturn are the helpful planets in this horoscope. Their placements suggest some amount of comforts, fortune, energy and status - all of which is consistent with what we know about life in Greece. Barring challenging transits, the Venus sub-period from January 2015, promises a fortunate change of events.

References
[1] Kohn, George C. (2007) Dictionary of wars. 3rd edition. Infobase Publishing, USA. http://books.google.is/books?id=OIzreCGlHxIC&pg=PT228&lpg=PT228&dq=Greek+independence+January+13,+1822&source=bl&ots=zNPcMDEoLS&sig=hEx7mXO011cVzF4T5xSeG2pj9q0&hl=en&sa=X&ei=59xLT4DkNcmu0QXBlOnuDw&redir_esc=y#v=onepage&q=Greek%20independence%20January%2013%2C%201822&f=false
[2] Beaton, Roderick and David Ricks, eds. (2009). The making of modern Greece: nationalism, romanticism and the uses of the past. Ashgate Publications. Surrey, UK.
http://books.google.is/books?id=ImsWVbWVrgIC&pg=PA1&lpg=PA1&dq=London+Protocol+3+February+1830+Greece+recognised+independent+state&source=bl&ots=35OeZnfHQQ&sig=RtMzK2xlqyv_QeVyHJhAilYC_gM&hl=en&sa=X&ei=vN9LT9r2IOqG0AWhwZiXDg&redir_esc=y#v=onepage&q=London%20Protocol%203%20February%201830%20Greece%20recognised%20independent%20state&f=false
[3] Seton-Watson, Hugh (1977). "The Greeks and the 'Great Idea', from his Nations and States: An Enquiry into the Origins of Nations and the Politics of Nationalism, Westview Press, Boulder, Colorado, pp. 110-117. http://coursesa.matrix.msu.edu/~fisher/hst373/readings/setonwatson1.html">http://coursesa.matrix.msu.edu/~fisher/hst373/readings/setonwatson1.html
[4] Gazis, Thomas (2007). Greece’s natal chart. April 28. http://astro.forumup.com/about1748-astro.html
[5] Astrologer & Author V. K. Choudhry. http://www.yournetastrologer.com/learn_astrology82.htm
[6] Papadimopoulos, Themistocles (2011). Brief history of the Greek Crisis 1830-2010.
http://www.slideshare.net/cathpain/history-of-greek-crisis-18302010
[7] Tárki European Social Report (2008). Income distribution in European countries: first reflections on the basis of EU-SILC 2005. http://www.tarki.hu/en/research/european_social_report/20080701_3.pdf">http://www.tarki.hu/en/research/european_social_report/20080701_3.pdf
[8] Moschovis, George and Mateo Capo Servera (2009). External imbalances of the Greek economy: the role of fiscal and structural policies. 10 July. ECFIN Country Focus. http://ec.europa.eu/economy_finance/publications/publication15499_en.pdf
[9] BBC (2010). Greece's budget deficit worse than first thought. 22 April 2010 16:34 UK. http://news.bbc.co.uk/2/hi/8637270.stm
[10] WSJ (2012). S&P Cuts Greece To Selective Default, Cites Collective-Action Clauses. February 27, 2012, 5:25 p.m. ET. http://online.wsj.com/article/BT-CO-20120227-715442.html
[11]. Katsios, Stavros (2006). The shadow economy and corruption in Greece. South-Eastern Europe Journal of Economics 1. http://www.asecu.gr/Seeje/issue06/katsios.pdf.
[12] Apostolakou, Lito (2009). The Bankruptcy of Greece in 1893. Apr 28. http://lito-apostolakou.suite101.com/the-bankruptcy-of-greece-in-1893-a113142
[13] Reguly, Eric (2012). Despite second bailout, Greece is still a time bomb. Globe and Mail
February 26. http://www.theglobeandmail.com/report-on-business/commentary/eric-reguly/despite-second-bailout-greece-is-still-a-time-bomb/article2349487/
*) BBC Timeline of Greek developments: http://news.bbc.co.uk/2/hi/europe/1014812.stm

Opening the gates of speculation

Significant legal changes were enacted in the late 1990s which encouraged the historic housing bubble which began in 1996 and burst in early 2007. One of these laws was the Gramm-Leach-Bliley Act (G-L-B Act) which reversed the Banking Act of 1933, better known as the Glass - Stegall Act (G-S Act). These major changes and their repercussions are explained in terms of the SAMVA USA chart (Perpetual Union). Importantly, the financial crisis of 2007 - 2008 was accurately predicted before the event based on this chart as well as the sluggish economic recovery since.

Opening the gates

The G-S Act was enacted in the wake of the collapse of banking in the Great Depression of the 1930s.[1] It established the Federal Deposit Insurance Corporation (FDIC) in the United States and introduced banking reforms designed to control speculation. The G-L-B Act removed the restrictions of the G-S Act and thereby opened the doors for the biggest speculative boom in US financial history. It has also been alleged that the G-L-B Act transferred effective control over the entire US financial services industry (including insurance companies, pension funds, securities companies, etc.) to a handful of financial conglomerates and their associated hedge funds.[2]

On November 12, 1999, President William Jefferson Clinton signed the G-L-B Act into law with the following words:

“Today I am pleased to sign into law S. 900, the Gramm-Leach-Bliley Act. This historic legislation will modernize our financial services laws, stimulating greater innovation and competition in the financial services industry. America's consumers, our communities, and the economy will reap the benefits of this Act.“[3]

In short, while the aims were good, the legislation did not anticipate the inherent weakness for speculation in the housing market and the resulting crash and pain to US citizens that was to follow. Other legislative changes having a similar influence, involving e.g. housing mortgage giants Fannie Mae and Freddy Mac, were soon to follow. With growing knowledge of the elements of the crisis, the divine astrology of the Vedas and the new horoscope for the USA, it becomes possible to identify and warn against such developments in the future.

Astrology of the event

At the time of signing, the Venus-Sun period was operating in the SAMVA USA chart. Sun periods are normally associated with progress in US national life. The Sun, along with Jupiter, is a general indicator of banking. The Venus major period is associated with indications of the 4th and 6th houses, notably financial stability problems linked to housing. Transit 2nd lord Sun was debilitated and in old age in the 4th house of housing at the time of signing. Transit Rahu and Ketu at 12° 54‘ Cancer and Capricorn were afflicting natal Mercury as 3rd lord of enterprise and freedom of action at 12° 05‘ Capricorn and 7th house as well as Rahu aspecting natal Mars as 10th lord of laws in the 5th house of speculation. Transit Mercury at 3° 29‘ Scorpio was conjunct natal Jupiter as 6th lord of financial stability in the 5th house of speculation. Transit Saturn as 8th lord of obstacles and endings was debilitated at 19° 20 Aries and thus conjunct the MEP of the 10th house as well as Rahu at 17° 47‘ Aries. Transit 6th lord Jupiter was at 3° 29‘ Aries in the 10th house of laws. Transit 4th lord Venus was debilitated at 10° 11‘ Virgo and 3rd house.

As has been mentioned in earlier articles on this blog, the repercussions of the bursting of the housing bubble in the USA in 2007 have been serious. Moreover, the housing market is expected to remain rather weak during coming years, or until the Venus major period ends in April 2016, hampering the recovery of the economy. However, other factors are expected to turn positive in the forthcoming sub-period of Mercury from April 2012, linked to new enterprises and high tech/IT production.

Venus and housing

It has been repeatedly discussed on this blog how the the Venus major period in the SAMVA USA chart brought problems in the area of housing.

"As Venus is badly placed and weak in the 6th house of the chart, the acquisition of homes or vehicles is based on debt and this can become a source of conflict or problems, such as in mortgage debt defaults."[4]

Indeed, a housing bubble of unprecedented proportion developed in the USA during the Venus major period (April 1996 - April 2016) as seen in the accompanying graph by Schiller. The graph shows that housing values began to skyrocket as this major period began.

It has also been shown how during the Rahu sub-period (2003-2005) the toxic sub-prime debt was generated and sold around the globe. This was the catalyst of the financial problems once housing prices began to decline. A graph of the sub-prime issuance is shown in the article The US-led global financial crisis.[5]

Jupiter and banking

The serious banking problems erupted in the USA during the Jupiter sub-period (June 19, 2007-February 17, 2009) within the Venus major period (April 1996-April 2016).

The following graph shows clearly how it was in the Jupiter sub-period that the banking crisis broke out and US financial stability was harmed by the housing bubble bursting. Public finances were also harmed when the government increased its debt in protecting the banking system even if many banks went bust. In the Saturn sub-period (2009 - 2012) the focus has shifted to a sluggish recovery and unemployment.

One feature of the US financial crisis was the massive failure of banks stemming from the systemic failure in the housing loans.[4]

Table: Number of failed banks.

2006: 0

2007: 3

2008: 30

2009: 148

2010: 157

2011: 92

In most cases the failure took the form of "Purchase and Assumption". This is where the insured and uninsured deposits, certain other liabilities and a portion of the assets were sold to an acquirer.

One of the largest US banks, Bank of America, is now in trouble and may sell of assets to maintain a sufficient amount of reserves to be deemed "healthy" enough by the regulators to withstand temporary funding stress.[5]

The link between Jupiter and banking is clear in the SAMVA USA chart: Jupiter is 6th lord of financial stability. It is located in the 5th house of speculation. Jupiter is also the general indicator (along with the Sun) of banks. Finally, Rahu, indicator of manipulation, is in the MEP of the 10th house of laws, where it affects the 6th house of financial stability. In 1999, US legislators weakened the laws governing the banks, enabling the banks to become highly speculative, veritable casinos, thus setting them up for a crisis. Venus as 4th lord of fixed assets (housing) is placed in the 6th house. The banking problems are directly linked to the bursting of the house price bubble in early 2007.

Banks began to experience funding problems in July 2007, when news of losses linked to sub-prime mortgages began appearing and a German bank, which had invested heavily in these US housing market instruments, failed. In August 2007 an international liquidity squeeze emerged on the inter-bank funding market, with the US Federal Reserve and other central banks stepping in with emergency cash. In March 2008 the problems became so great that Bear Sterns bank failed and was taken over by J.P. Morgan. Other gigantic such failures occured in September 2008, including AIG, Fannie Mae and Freddy Mac, which had to be rescued. Inter-bank lending completely froze up on September 15, 2008, after Lehman Brothers collapsed. Since the massive crisis of that time, there have been ongoing after-effects, with bank failures, even after the Jupiter period ended.

This has been linked to transit afflictions involving either transit or natal Jupiter This is the case at present, with transit 8th lord Saturn afflicting transit Jupiter and transit stationary Rahu afflicting the 5th house, where Jupiter is natally placed. The fact that Rahu natally afflicts the 6th house, owned by Jupiter, is important in this respect. In particular, we can note the regular 20 year cycle of Saturn-Jupiter oppositions has been ongoing from early 2010 to early 2012 (exact on May 23 and August 16, 2010). This is consistent with the banking failures have been so great in 2010 and 2011, as the above table demonstrates. Despite that, the system remained functioning in these years, as sluggish economic growth emerged in the Saturn sub-period (February 2009-April 2012).

Conclusion

We know that the transit and period influences in the SAMVA USA chart allowed us to predict such problems. With the clarity of hindsight a more precise explanation has emerged concerning the elements of the crisis and their interaction. The associated astrological knowledge has value in warning about such weaknesses in the future.

References

[1] Chossudovsky, Michel (2008). "Global Financial Meltdown: Sweeping Deregulation of the US Banking System." Global Research, October 17. http://www.globalresearch.ca/PrintArticle.php?articleId=10588

[2] Glass-Stegall Act on Wikipedia.

http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act

[3] “Statement on Signing the Gramm-Leach-Bliley Act.“ The American Presidency Project. November 12, 1999.

http://www.presidency.ucsb.edu/ws/index.php?pid=56922#axzz1jWbWPgjV& McLaughlin, Martin (1999).“Clinton, Republicans agree to deregulation of US financial system.“ November 1, WSWS.org

http://www.wsws.org/articles/1999/nov1999/bank-n01.shtml

[4] Cosmologer. "The year ahead for the USA." December 31, 2007.

http://cosmologer.blogspot.com/2007/12/year-ahead-for-usa.html

[5] Cosmologer. The US-led global financial crisis. November 15, 2008.

http://cosmologer.blogspot.com/2008/11/us-led-global-financial-crisis.html

[6] FDIC Bank failures in the United States. FDIC.gov

http://www2.fdic.gov/hsob/HSOBSummaryRpt.asp?BegYear=2011&EndYear=2006&State=1&Header=0

[7] Reuters. "BofA told Fed it could sell branches in emergency: source." Jan 13, 2012 6:30pm EST.

http://www.reuters.com/article/2012/01/13/us-bankofamerica-idUSTRE80C2HV20120113

Five years of predictions

Yesterday marked the 5th anniversary of the discovery of the 20° Cancer rising SAMVA USA chart. The authentic horoscope for the USA is based on the event when the Maryland state legislature passed an Act to ratify the Articles of Confederation and Perpetual Union at 5:00 pm (LMT) on February 2, 1781 (set for Philadelphia, PA). In doing so, Maryland became the 13th and final state to ratify, giving birth to the United States of America as a new nation. This chart has been the basis of many accurate predictions for the coming year. In this article some of the

successful predictions of major events and their timing are recalled.

December 30, 2006 (first prediction based on the chart)

1. What was predicted: Problems for 'fixed assets' in early 2007.

What happened: House prices fell, causing the sub-prime crisis to erupt.

2. What was predicted: "A sudden event disturbs the social equilibrium...Violence...and loss of life" in the spring 2007.

What happened: The Virginia Tech shooting took place; the largest campus massacre in US history. The event was a shock for the nation.

January 6, 2007

What was predicted: Astrologer & Author V. K. Choudhry "In the recently proposed US chart for the 2nd February, 1781, 1705 hours, the transit influences show severe afflictions during middle of March, 2007, to early May, 2007, indicating lot of controversies, emotional involvement of the people in controversial issues, financial/market setbacks, fatal/serious accidents, weather vagaries/disturbances, setbacks in war fields, etc."

What happened: (see above)

December 31, 2007

1. What was predicted: "A crisis in the fall of 2008...The astrological situation will become decidedly more intense from late July...problems or stress will be felt for the wealth of the country (possibly having to do with a reduction in the value of the dollar or stocks)...This aspect peaks at the end of September and the situations that arise are expected to gradually ease in the following weeks."

What happened: A near collapse of US banking system took place in September 2008.

2. What was predicted: "Political conventions in the autumn of 2008, are likely to be quite memorable due to a sense of tension associated with political recrimminations [and] ongoing challenges to the financial system."

What happened: All of the above and the presidential candidate for incumbent party lost the election.

3. What was predicted: "Destruction of assets in late 2008."

What happened: In addition to hundreds of billions of dollars in asset losses in the financial crisis, investment scams came to light costing investors close to one hundred billion dollars.

August 29, 2008

What was predicted: Astrologer & Author V. K. Choudhry:

"Transit Mars, Venus and Mercury would be in exact or very close conjunctions between 13th to 15th September, 2008, and these three planets would be under the exact affliction of Rahu. Simultaneously, Jupiter would also be closely influencing Saturn. The Sun would be quite weak to offer the protection...

These afflictions may pose further challenges to the world economy as its impact is significant in the charts of countries like USA, India, China, UK, France, etc. etc."

What happened: the prediction was not only realised but Lehman Brothers declared bankruptcy on the the 15th of September - the date mentioned in the prediction! This event is considered the turning point in the crisis, making it infinitely more difficult.

December 31, 2008:

1. What was predicted: "In August the strains for the US and global financial system will seem to give way to more a positive outlook for the economy."

What happened: A recovery emerged in the autumn of 2009

2. What was predicted: "Improved employment conditions in high tech and analytical activities."

What happened: The IT sector was buzzing with new products.

December 30, 2009

1. What was predicted: "A crisis in the summer of 2010...Some violent events - natural or man made - are thus likely to take place during the summer."

What happened: the largest off-shore oil leak in US history took place in the Gulf of Mexico.

2. What was predicted: "The US economy is expected to remain on a sluggish but improving trend during the Saturn sub-period."

What happened: The economy saw a sluggish but improving trend.

December 31, 2010

1. What was predicted: "From the Autumn months [of 2011], and notably towards the end of the year such indications as speculation, financial markets, university life and children are likely to become disturbed, as well as ...some crisis regarding the image of the country."

What happened: The Occupy Wall Street (OWS) protests broke out. Some investment houses went bankrupt and there were grave concerns over the financial situation in Europe.

June 15, 2011

What was predicted: A further elaboration of the transits in the fall suggested a problem involving "morals and ethics of the people."

What happened: The OWS protests have revolved around the immorality of greed and injustice associated with an unequal distribution of wealth and income in US society.

December 30, 2011

Predictions were made for the coming year (see foregoing article).

Predictions for the USA in 2012

To predict what to expect in the USA during the year 2012, the period and transit influences in the 20° Cancer rising SAMVA USA chart (Perpetual Union) are examined. Among the salient insights is that the year 2012 will likely be easier than recent years. This is due in part to a change to a more auspicious sub-period in April and to less difficult transit strains seen. While the weakness associated with the bursting of the housing bubble will remain for some more years, the focus will shift from concerns about the sluggish economy to diplomatic and business initiatives around the world. There is plenty of conflictual energy seen this year, which could be associated with high profile court cases or military involvement. The end of the year may see growing problems concerning communal harmony.

Trend change in April
The SAMVA USA chart is running the Venus major period until April 2016. As Venus is the weakest planet in the horoscope, the conditions of financial instability associated with the bursting of the housing bubble will remain for some years. In April 2012, a change in sub-periods takes place, from the Saturn sub-period (February 16, 2009 - April 19, 2012) to the Mercury sub-period, suggesting a shift in the collective emphasis. In recent years, the focus has been on on the indications of Saturn as 8th lord placed in the 5th house of the horoscope in marginally weak strength. As a result, the focus has been on e.g. the sluggish economy and high unemployment. On the upside, the transit of Saturn through the sign Virgo and 3rd house has been associated with better employment conditions in the IT sector, linked to many innovations there. On November 15, 2011, transit Saturn passed into the sign Libra, which is expected to bring easy gains relating to land or natural resources. When Saturn is afflicted in Libra, some setbacks may take place in property matters and communal harmony. As Mercury is 3rd lord and sun-like planet in the 7th house of the chart, from April a shift in emphasis is expected towards advances in high tech activities driving economic developments and increased diplomatic activities of the US government

Key transits in 2012
1) station of Saturn at 5° Libra (Jan.-Mar.)
2) station of Rahu/Ketu at 20° Scorpio/Taurus (Jan)
3) transit of Mars in Leo (January - May)
4) station of Saturn at 29° Virgo (May-July)
5) transit of Mercury in Cancer (June – Aug.)
6) transit of Venus in Taurus (Apr.-July)
8) station of Rahu/Ketu at 11° Sco/Tau (Apr.-June)
9) station of Jupiter at 21° Taurus (Sep.-Oct.)
10) station of Rahu/Ketu at 2° Sco/Tau (Oct.-Dec.)

A tense beginning
From January 1 to mid February 2012, transit 8th lord Saturn and transit 6th lord Jupiter will be in opposition aspect, while Saturn is stationary around 5° Libra and 4th house. While this aspect is not otherwise afflicting in the chart, problems involving violence and financial instability are expected at the beginning of the year. There could be problems to land and natural resources, collective harmony as well as international trade and government administration. Such problems would be more pronounced in the first half of January, when transit 10th lord Mars and transit 4th lord Venus, dispositors of Saturn and Jupiter, are both afflicted by natal Saturn as 8th lord of obstacles and endings. The continuing transit nodal station in MEP of 5th and 11th houses, involving the morals and ethics of the people, which lasts until mid February 2012 would add to the problems in early 2012.

Long transits of fast moving planets

In the first five months of 2012 transit Mars will be in Leo and 2nd house. This is a good placement for Mars as 10th lord of government cabinet and foreign trade and as general indicator of courage and the military and police. From April to July, Venus will be placed in the sign of Taurus and the 9th house. This is good for the functional indications of Venus as 4th house of property matters and communal harmony and the general indications of luxuries, including air travel. From June to August, Mercury will be transiting the sign of Cancer and 1st house. This is good for the indications of the 3rd house, such as communication, transportation, courage and initiative as well as the general indications of high tech activities and analysis - especially as the Mercury sub-period will be operating.

Slow moving transit influences
The transit nodes will be conjunct/opposite natal 10th lord Mars from April through July 2012. This transit could bring strains for foreign trade, government administration, the military and police. Some challenge for law and order is likely. This could also indicate problems with economic conditions elsewhere. As Mars is strong in the chart, the strains will not result in a setback to these indications. On May 17, Jupiter will move into the sign Taurus and 11th house. This sign and house would be good for its indications, however, when Jupiter becomes conjunct the Moon and opposite planets in Scorpio, it would bring short lived conflictual energy to their indications. In late June (see transit chart) and early July, Jupiter will become conjunct transit Ketu, adding to the problems for the indications of the ongoing nodal affliction. There could be military activity around this time. In June and July 2012, transit retrograde Saturn moves into Virgo, where it afflicts natal Saturn. While the aspect is not of an exact orb, it could bring additional problems related to government communication with the people and easy gains. In September and October, 6th lord Jupiter will become stationary at 21° Taurus and the 11th house. This suggests conflict, even high profile court cases, involving the indications of the 11th house, such as the income, friendships and goals of the country, as well as the indications of the 3rd house of communication, 5th house of entertainment and 7th house of foreign relations. Of course, in a year with Presidential elections, this also suggests the campaign will become especially contentious at that time. During the last three months of the year, transit stationary Rahu and Ketu will be at 2° Scorpio and Taurus, respectively. From the late summer months, the nodes will have begun to afflict natal Jupiter as 6th lord at 4° 25' Scorpio and 5th house, also suggesting problems involving conflict.

.

Problems at the end of the year

As the year ends, transit 8th lord Saturn will be in applying conjunction with natal Ketu at 17° 47' Libra and 4th house and opposite natal Rahu in Aries and 10th house. This suggests problems for communal harmony, possibly along racial or ethnic lines, as well as the government, foreign trade and law and order. However, the problems will likely be felt more in early 2013 when Saturn becomes stationary at 17° 30' Libra.

End of Empire

The fall of Singapore to the Japanese Army on February 15th 1942 is considered one of the greatest defeats in the history of the British Army and probably Britain's worst defeat in the second World War. In a span of few days, 90,000 British troops were overrun by 30,000 Japanese troops, who fought with a combination of speed and savagery. The British forces became prisoners of war. In a single stroke, Britain's status as a colonial power in South East Asia was ended. In short order, Britain's hold on Burma was also ended. A few years later Britain pulled out of India, which then broke up into Hindu India and what became Muslim Pakistan and Bangladesh.

In other words, the British Empire in Asia was delivered a mortal blow on that fateful day. This is also seen in the fact that the fall of Singapore and Burma had little impact on the course of the war in Asia and Pacific as the US military stepped into the breach, with its influence in the region growing.[1]

As has earlier been discussed, such a dramatic development is seen in the horoscope of the United Kingdom. The key natal factor behind the decline of the British Empire is the placement of Sun as 12th lord of foreign things and losses being conjunct the most effective point of the 4th house, which amongst other things rules land. However, on this fateful day, there were plenty of period and transit influences, triggering such an outcome.

The Saturn major period was operating from December 28, 1926 to December 28, 1945. Saturn is 6th lord of conflict in the 16° Virgo rising chart for the UK. This is similar to the situation in the USA, as its national horoscope was also running the period of the 6th lord during World War II. In the UK chart, Saturn is badly placed and weak at 2° 17' Leo and the 12th house. Saturn is further weakened by being debilitated in Navamsa chart. This placement suggests conflict, financial stability and health are associated with foreign things and losses. The problems are more as 12th lord Sun at 19° Sagittarius is conjunct the MEP of the 4th house of natural resources, including land. Sun also aspects the 10th house, giving, both problems and a prominent place in the world, not least as the Moon is also placed there, and the planet of status, 2nd lord Venus, is well placed in the 5th house.

Importantly, the Rahu sub-period was operating from August 8, 1940 to June 16, 1943. FM Rahu at 23° Pisces and 7th house of foreign policy aspects Mercury as 1st lord at 26° 28' Scorpio and 3rd house of communication and transportation. This aspect suggests the confidence and self image is subject to setbacks. The problems in Britain were more in this major and sub-period combination - a dual malefic period. Indeed, during this period other major problems hit Britain, including the severe bombing of London by the German Luftwaffe and land based V2 rocket-bombs. Britain was ultimately able to repel the attack but at major cost.

At the time of the stunning defeat in Singapore, when the British General signed the letter of surrender, several difficult transits were taking place:

• transit Rahu (the true node) was stationary at 20° 20' Leo from January to March 1942. The three month station in one degree can bring crisis and setbacks to the indications of a natal planet or point it touches. As Rahu was conjunct the most effective point (MEP: +/- 5° from ascending degree) of the 12th house it afflicted the indications of this house, as well as the 4th, 6th and 8th houses. Aggravating its conjunction to the MEP of the 12th house was the aspect of Rahu to natal 12th lord Sun at 19° Sagittarius. This is a most difficult indication for not only the 12th house of losses, but also that which the Sun touches, the 4th house of land. Another aspect of transit stationary Rahu was to natal 8th lord Mars at 20° Aries and 8th house of easy gains. In short, there was a setback to any 'easy gains' Britain had enjoyed in this part of the world up to that time.
• transit Ketu was also stationary at 20° 20' Aquarius and 6th house MEP, hence afflicting the indications of the house. Sudden problems for the indications of the 6th house, such as conflict, financial stability, health, are to be expected with such a long standing transit.
• Natal Ketu at 23° Virgo was also aspecting transit 1st lord Mercury at 22° Capricorn and the 5th house, suggesting vulnerability for a sudden setback for the indications of self, including fame, for the British.
• transit 12th lord Sun was placed at 2° 37' Aquarius and 6th house in exact opposition aspect to natal 6th lord Saturn. This is a stunning aspect concerning the timing of this dramatic setback for the UK.
• transit 6th lord Saturn at 29° Aries and 8th house was weak in transit and thus adding to the vulnerability. Transit Saturn was also aspecting natal 11th lord Moon at 28° 20' Gemini and 10th house, further dashing the hopes and dreams of the country.
• transit 8th lord Mars at 25° Aries and 8th house was casting an aspect to natal 1st lord Mercury in the 3rd house. This aspect highlights the obstacles and endings involved for the self-image of Britain as a colonial power.

In short, this devastating event in UK history is linked to truly horrible set of factors operative in the UK horoscope at that time, also triggering a natal factor.

References
[1] Britain's Greatest Defeat: Singapore 1942 By Alan Warren.
http://books.google.com/books?id=zosKzAoocu8C&printsec=frontcover#v=onepage&q&f=false

Will the euro survive?

In the following article the prospects for the Single European Currency project are discussed from an astrological perspective. Based on a tentative Cancer rising horoscope for the formation of the European Union, it is found that "The planetary positions do not indicate a bright future“ for the Euro project. It is likely the euro project will continue but that problems will continue to haunt it. Moreover, after some time there is also the possibility that the euro project will come to an outright end.

Analysis of the European Union and euro
One of the major questions for the present time is if the entity known as the EU will survive in its present configuration. At the crux of the problems is the single currency, the euro. The single currency is based on the existence of a single European Central Bank and the System of European Central Banks - similar to the US Federal Reserve banking system. The real difference is that the EU, based on the Treaty of European Union, which entered into force at midnigh on 1 November 1993 in Brussels, does not have a federal government. With the new EU Constitution, the EU does have a President and Foreign Minister, but their power is limited and based on the decisions of the Council of Ministers, which report back to the member governments. The governing arrangement is similar to what the US had when the Articles of Confederation and Perpetual Union was in place (1781-1789). At that time, the US government was the Confederation in Congress Assembled. All the power was based on the State governments. That said, the EU has one advantage over the early US government, it already has a central bank. However, the weakness of this central bank is that it is not backed up by a strong federal government. This has been the basis of the recent Euro crisis, with small member states being punished by the markets for having become burdened by heavy debts. Without a central government, the EU can lend such states but not guarantee their debts. As a result, some states are fighting to stay solvent and not go bankrupt, which could ruin the euro project. Recently, the leaders of Germany and France decided to propose improved arrangements with the establishment of an economic government, which would ensure that governments keep their fiscal books in order. Will this, along with the large European System of Financial Assistance fund to lend member governments, be enough to calm the markets and ensure the continued viability of the euro? What do the stars suggest?

Notable views on the euro crisis
In 1999, at the outset of the euro, the famed US economist Milton Friedman said he was doubtful the euro project would work out.[1] On August 24, 2011, former Federal Reserve chairman Alan Greenspan said that the euro crisis was hurting the US economy [2] and that "the euro is breaking down."[3] On August 27, 2011, the new IMF head Christine Lagarde said in a speech at Jackson Hole, a conference of central bankers, that European banks may need to be recapitalised, involving government (taxpayer) funds if necessary.[4] The problems facing the euro are therefore legion and outlook is not indicating much relief for the time being.

Astrology of the EU and euro
The 23° 29' Cancer rising chart (attached) has some interesting parallels with the 20° Cancer rising SAMVA USA chart. However, the placements involving the currency and government are all a fair bit weaker in the EU chart.

1st lord Moon is exalted at 0° 33' Taurus and 11th house, where it has only limited strength. It is in mutual opposition aspect with 10th lord Mars in own sign at 0° 20' Scorpio and 5th house and is debilitated in Navamsa. Despite both planets being in deep infancy, there is some amount of fame and glory on account of this aspect, but not nearly as much as for the USA. This is more so as the 2nd lord Sun is debilitated at 14° 46' Libra and 4th house. It's dispositor, Venus, is debilitated at 26° 04' Virgo and the MEP of the 3rd house. In turn, 3rd lord Mercury is at 26° 04' Libra and the MEP of the 4th house. This is an interesting combination of mutual disposition, especially as the aspect of Venus to the 3rd and 9th houses boosts their indications and the same can be said of the aspects of Mercury to the 4th and 10th house indications. Venus is placed in a Sun-like house and Mercury is a Sun-like planet. The Sun is, in addition to being the Sun!, is also a Sun-like planet on account of its rulership of the 2nd house. Moreover, aside from a wide aspect from 6th lord Saturn at 29° 52' Capricorn and 7th house (not in the MEP) to 3rd lord Mercury in the 4th house, there are no other afflictions in this chart. That is a very good thing, suggesting that aside from frequent transit afflictions, there are no deep divisions running in the EU.

To assess the strength of the currency arranagments, we look to the strength of the 2nd and 11th houses and the Sun and Moon. The Sun and 2nd lord has only 62 percent natal strength despite all the influences, such that it is not a fairly strong planet. It is a moderately weak planet which may not be able to withstand strong transit afflictions. That said, the confidence may be reasonably high with this planet. Actually, it is a judgement call, what it can withstand. Moreover, the Moon in the 11th house has 15 percent strength, which is very weak and hence it does not support the indications of currency.

Considering the indications of government, notably the Sun and also Mars as 10th lord at 5 percent strength, we come to a similar conclusion. Mars does not add to the confidence of the Sun. However, it is through the benign aspect of a weak Moon, and vice versa, that some additional confidence may be gained.

If we then look at the additional influences of Mercury as 3rd lord of confidence (with 89 percent strenght) on the houses aspected, it would be helpful to the 4th house, containing the Sun, and to the 10th house, ruled by Mars. By the same token, the aspect of 4th lord Venus (with 49 percent strength) on the 3rd house, would give support to the confidence from the decent communal harmony, natural resources and fixed assets of the EU.

We can also note that Jupiter as 6th lord of financial stability is well placed in the 4th house with fairly good strength (83 percent). It suggests the EU will not be saddled with too much debt and that its ability to service debts is not in question. However, Saturn as 8th lord of easy gains and confidence of others has only 3 percent strength and is in the 7th house of others and foreign policy. Hence, this is not helpful to the overall assessment. Rahu and Ketu are placed in the 5th and 11th houses, in their houses of debilitation, creating some moderate disturbances for the speculative actitivities and incomes, friendships and ideals.

So, we have insufficient strength on account of the indications of currency and government, along with a notable lack of confidence within and outside the project. However, we also have a notable lack of afflictions in the chart and some good aspects. In view of this, a balanced judement is required concerning the question if the euro project will surive or not. Alternatively, if the euro project is judged to survive, it is likely it will be associated with a depreciating currency and/or higher interest rates on its debts than if otherwise would be the case.

Assessment
Based on the tentative horoscope for the EU, Astrologer & Author, V. K. Choudhry has offered his assessment of the prospects for the single currency project as well as the ability of the EU to form a government that will have the confidence of the markets. In his view

“The planetary positions do not indicate a bright future. The possibility of ability of the EU to form a government that will have the confidence of the markets is weak.“

His comment "The planetary positions do not indicate a bright future" should be interepreted such that the euro may continue indefinitely but with problems. At the same time he cautions that after some time the possibility of the euro project coming to an outright end is also there.

Near term development
Presently, transit Ketu is afflicting natal 4th lord Venus in the 3rd house. This has produced a sudden upset for the otherwise good communal harmony in the European Union. Finland has recently demanded collateral from Greece in return for its participation in the joint assistance being offered to the country in order to deal with its debt problems. The transit of Mars, as general indicator of courage, through the 12th house of losses, is also adding to the skittishness of investors in Europe. More importantly, with transit Jupiter as 6th lord of financial stability and conflict being stationary at around 16° Aries in August and September 2011, where it opposes the natal Sun, as general indicator of leadership in the EU, as well as being the 2nd lord of wealth, status and close relations, V.K Choudhry has opined that

“The persisting influence of transit Jupiter on the Sun in the EU treaty chart is likely to keep the conflicting situation going.“

To this we may add that from mid September, transit Saturn as 8th lord of obstacles will pass over the 23° 29' degree of the 3rd house, while being aspected by transit Ketu in the MEP of the 11th house. This suggests additional sudden problems for the confidence of outsiders in the EU project. This will be more so as transit Jupiter will in retrograde motion be applying in its opposition to the natal Sun.

Finally, it is likely, as predicted before on the SAMVA list, that the concerns over the EU financial situation will have a disruptive effect on the US financial system and economy. This would be consistent with the nodes settling into stationary placement in the MEP of the 5th and 11th houses of the SAMVA USA chart, with the following repercussions, as discussed in the year ahead prediction for the USA.

"From the Autumn months, and notably towards the end of the year such indications as incomes, friendships, speculation, financial markets, university life and children are likely to become disturbed, as well as problems in transportation and some crisis regarding the image of the country."

A tentative horoscope
It should be kept in mind that the insight are based on the assumption that the present horoscope for the EU is authentic. While this horoscope corresponds well to the developments, until the confidence is further established, the insights based on this chart should be treated accordingly, i.e. with some uncertainty recognised as being there as well.

The value of mundane astrology
The real value of mundane astrology is that it provides us with a way to peer into the future of social developments. At its best, SA mundane vedic astrology allows us to gain a more precise insight into future real world developments than would otherwise be possible with rational projection alone, based on theoretical constructs, practical experience and uncertainty. It does so by indicating which way the trend is likely to go (up or down) based on the natal potential and major periods, as well as to also identify times when strains and unexpected developments are likely to take place, based on sub-period and transit analysis. Importantly, by indicating the likelihood of developments, the uncertainty is reduced, and individuals and governments can prepare themselves accordingly.

References
[1] Milton Friedman on the euro, 1999.
http://www.cato.org/pubs/journal/cj28n2/cj28n2-10.pdf
[2] Alan Greenspan on the euro crisis hurting the US economy, August 24, 2011. http://blogs.wsj.com/economics/2011/08/23/greenspan-euro-crisis-hurting-u-s-economy/
[3} Alan Greenspan on the euro breaking down, August 24, 2011. http://www.presstv.ir/detail/195442.html
[4] Christine Lagarde, IMF head, on banking problems in Europe, August 27, 2011.
http://www.imf.org/external/np/speeches/2011/082711.htm