Greece’s economy is dwindling of recent and the situation is being discussed on the news virtually on a daily basis. The situation has worsened mainly since the fall of 2009, when it was revealed by the present government ( elected Oct. 4, 2009) that the country’s deficit was aroung 12.7% , and not close to 6%, as alleged by the previous government. It was then that the bond spreads started to rise continually, and have been doing so up to date.

The main reason for this is that Greece lost credibility as to the financial figures initially presented. The situation has worsened as investors kept losing faith in the security of Greek bonds, and the Government was hesitant in taking forceful immediate measures to reverse the situation.

At the end of March ( March 25) , it was decided that the European Union, in collaboration with the IMF, would provide financial assistance to Greece up to 45 Billion Euros, provided the IMF reviewd the finances of the country and proposed strict measures to be taken in order for the aid to be given.

However, the exact method of this aid had not been worked out in detail, and, more so, Germany was sending contradicting messages , for their own political purposes ( Germany has elections on May 9).

Last Friday ( April 23), it came to the point that the Greek PM announced that the country would have to request  financial aid immediately.

We’ll take a look at the astrological significators of the chart of Greece , and look at the factors affecting it, and worsening the situation.

Below follows the chart of Greece, which is the date the Greek state was created, after it’s liberation by the Turks, in 1830.

( Interior circle: Natal chart exterior circle: Progressed chart for April 2010)

Greece-natal and progressed April 2010

You will notice the cluster of natal and progressed planets , and points, in opposition between the 3rd and 9th house. Greece has a natal conjunction of the Sun and Uranus, showing the love of independence  and , negatively, the unruliness , of the country.Also, the Sun is in opposition to Saturn, meaning difficulties and austerity. The progressed sun has come to oppose the natal planets, and the MC. In addition, progressed Mercury is just past the opposition to Uranus, all of these showing the complete reversal of the situation of many aspects of life in the country, in a way that is hard to predict – as Uranus is involved.

The other ‘Danger’ progressed aspect is the progressed Venus, which has reached the square to natal Pluto and opposition to natal Jupiter. That is a clear indication of the grave financial situation, and is worsened by the transit of Pluto forming difficult aspects on the three planets on the T-square. This T-square will be adversely afffected again  by transiting Saturn (Sept.2010 and later) and later by Jupiter and Uranus.

For the time being, we should like to concentrate on the adverse effects of the movement of Mars on the Sun-Uranus-MC-Saturn combination , ad how this affected the increase in the bond spreads:

Below is the chart of the Greek bond spreads from mid 2009 to April 2010 ( source: Der Spiegel, 23/4/2010)

Mars has been in Leo since mid-October 2009, and has passed the natal -progressed cluster of planets in the Leo-Aquarius opposition three time so far :

1) Beginning November 2009 – the first  significant uprising trend ( as mentioned, this was due to thefact that the country’s   deficit was much higher that previouly believed)

2)Mid January 2010, in retrograde motion- in addition, tr. Venus was in Aquarius, AND tr. Saturn and Pluto were aspecting the Venus-Pluto-Jupiter T-square. We notice that the increase in the spreads is much sharper, and lasts longer. By this time it became more evedent that the country cannot get out of the situation on its own, and measures to remedy the situation had not been announced)

3) April 23 2010 to date-Mars is passing from the same position direct this time. On that date, the Greek PM announced that Greece will ask for the aid immediately. Here we see that much sharper rise in spreads, as  the aid mechanism is not in place yet, and Germany continues to announce that the aid will be given only and if, strict measures are taken.

4) The situation has come to a head today, as both Mercury at 9 Taurus retrograde, and the Sun at 7 Taurus, squared the opposition.

That caused an avalanche of adverse effects for Greece: The speads rose even more , the Athens stock exchange fell by 6%, and Greece was downgraded by Standard and Poors –  but that was not all: most of the European stock exchanges started to fall , and the spreads of other weak European countries, like Portugal, started to rise dangerously. The problem was spreading throughout the European union, as investors were withdrawing funds and moving them to other markets,to the  US, etc.

( In fact, the European Union chart ( not shown here) has adverse aspects these days, mainly due to the conjunction of transiting Pluto to its Sun, but we shall not go into detail at this stage)

In view of the grave situation, Germany, and other European Union officials, had to take a firmer stand to declare that they would provide Greeece with the financial aid, so that the country can pay off the debts due on May 19. The European Union announced a summit meeting on May  10.

Tomorrow, the Moon in Scorpio will make a grand cross to this combination, exacerbating the crisis for Greece ,and endangering other countries of the European South, so that a faster and decisive action will have to be taken by the EU, to avert further deepening of this crisis.

So, as tr.Mars , Mercury and the Sun move away from the opposition in the Greek chart, we should see some calming down of the crisis situation. Mars moves away around  the end of the first week in May. Of course, there are many other transits that will cause problems  to these explosive natal and progressed aspects in the near future.Mercury , for example, will pass in direct motion from this position around May 19 , but difficult aspects are coming from mid-August onwards, this time due to the movement of Mars and Saturn into Libra, thus creating a grand cross on the existing T-square of prog. Venus, and natal Pluto and Jupiter.Possibly the financial plan that wi be finlized in the next days, will not show the expected results, thus imposing even more strict measures on the Greek people, but could also concern an adverse development on  a national issue in relations to neighbouring countries.

We shall wait and see.