What are the Prospects for the Euro?
by Roy Gillett
World Economic Background
The present panic over the euro is part of a process that exposes intrinsic inadequacy in the modern world economy, dating back its origins in the late 17th century.(1)When nations were forced to bail out and refinance their banks in 2008, world leaders and the economists who advised them naively assumed they would be repaid as prosperity returned in accordance with the normal economic cycle.Iceland's immediate bankruptcy and Dubai's bail out by the United Arab Emirates, were early warnings of what was to come. Record low interest rates and Quantative Easing (printing money) followed. Yet growth, seen as the 'saviour of all economic woes, refuses to return. In 2011, as more and more countries are unable to refinance their debts, the 2008 banking crisis has grown and will continue to grow into a sovereign debt crisis. In 2008, the commercial banks turned to nations for support. Now, to sustain the system, these nations turn to central reserve banks and international funds the IMF and World Bank. The old ways will not work as they did in the 1980s, or 1990s, or even the 2000s; we have spent all the money and nearly all but used up our capacity for credit. Also Pluto is in business-like Capricorn, not Sagittarius. This is only the third of its fourteen years there. A fundamental re-think that tests the sustainability of the current world economy is needed. Aiming to achieve growth by means of exploitative competition and Keynesian manipulation of the money system creates the opposite of economic reality - hardly business-like! This is why planetary concentrations in earth signs are reliable indicators of the end of booms in financial markets.
European Union at a Turning Point in its DevelopmentWith Saturn now in Libra, conjuncting the European Union's natal Venus and Jupiter in the 3rd and squaring its natal Neptune/Uranus conjunction in the 5th, world news focuses upon the EU's exposure to risk. Between 2012 and 2014, Saturn will move on to transit the EU's fourth house stellium in Scorpio. Fundamental restructuring of the institution and its peoples' relationships will be needed if it is to survive. Early November 2011, Saturn makes the first of three trines to its natal position, 23Aq38, near the descendant. Recent news suggests that by then a major fund to support the Euro will be agreed. The second and third trines occur on 23rd May and 28th July 2012 - either side of Saturn's direct station on 25th June 2012. Then we will see if the funding was adequate or more is needed. The EU natal Moon is at 24Ta19 in the 10th squared to natal Saturn. So, the Saturn transit points to increasing strains on the EU's position in the world. Pressure can only intensify into the summer of the New Year. By May to July any attempt to avoid reality will have dire consequences. With Saturn then transiting the EU's Scorpio 4th house stellium (see above), it is essential to take the necessary steps to rationalise EU finances and ways of doing business right away.
What are the Prospects for the Euro?At 12.05 am on 1 January 1999, Stephen Perry, CFO at VISA International and author of CIMA Publishing's Topical Issues title European Monetary Union, paid for a bottle of champagne, priced 63.91 euro, with his VISA card at the Kempinski Hotel in Gravenbruch, near Frankfurt.(2) This was on the New Year's Day bank holiday and a Friday. So the transaction would not have been processed until trading commenced fully on Monday 4th. The chart for that market opening date may be more appropriate to use. In the period between Mr Perry's celebratory purchase and the Monday market opening, Mars had moved from just past a square to the EU's Uranus/Neptune conjunction to almost the exact degree and minute of the EU's Venus; clearly a major, but dangerously speculative step was being taken. Facing the nature and consequences of the risk was not to occur for some time. Now in September/October 2011 with transiting Saturn in Libra at that very EU natal Venus/Euro natal Mars point, consequences are beginning to be faced. Although it moves on quickly and does not retrograde back to the Euro Mars/EU Venus point, Saturn does move backward and forward across the Euro's progressed Mars in 25 Libra and its natal Jupiter in 27 degrees Libra; all nearly exactly squared to progressed Sun in Capricorn. The full impact of the transit does not complete until the second week of September 2012. The role of transiting Jupiter is also dangerously significant. By slowing to retrograde station, on 30th August 2011, it narrowly stopped short of trining the Euro's natal Sun and progressed Moon/Mercury in Capricorn. Hence there is an impression that the European Central Bank and the nations that support the currency, do not have the will to deliver what they promised in July - funding to underpin sovereign debt of some Euro nations. Jupiter continues to retrograde until its direct station on Christmas Day 2011. After then it advances, slowly gathering speed to complete the long awaited trine the end of March / early April 2012. From early December 2011 until mid-April 2012, Mars slows and then retrogrades in Virgo making a grand a trine by sign from the second houses of the both the EU and Euro natal charts to the transiting Jupiter and the Capricorn planets in both the EU and Euro charts. In May and June 2012 it accelerates through Virgo; just as Saturn is adjusting to return to direct motion. What ever is done through the last part of 2011 is unlikely to be enough. More speculation and funding will be increasingly forced upon governments and institutions in the first half of 2012 at a time they are likely to be less willing and able to meet such demands.
Study the charts for more factors to combine with those mentioned above. Use these to work out for yourself the progress of the Euro and the EU itself over the months ahead. Bear in mind that the financial markets react positively, if they can see a chance to trade and profit from the new funds the governments make available. Giving in to them encourages short term trading by professional profit seekers; the very last thing needed if economies are to recover. It uses up precious resources rather than putting them to proper long term use. Profits go to the traders, who demand more cash injections to sustain price levels and the illusion of growth.
The symbolic meaning of Pluto in Capricorn is the message to learn. Funding an essentially flawed system that is structured for growth, competitive manipulation and short term advantage may offer the tempting immediate pleasure that comes from consumption, but it only appears to be 'successful'. It lacks the earthy structure and give-and-take responsibility to be a proper sustainable business model for lasting success in the 21st century. Until we change the model of the World Economy, one element after another will fall, in the order of their self-deceptive weakness. For, the Euro is not the first delusion to be tested and forced to change. It will not be the last, until we realise that it is the essence of the system itself that is flawed and has to change.
(1)Consider the deceptiveness and mutable avoidance in the charts for the Bank of England share issue to rebuild and the British Navy (12 noon LMT, 27th July 1674, London, England) and the foundation of the US Federal Reserve Bank (1802 EST, 23rd December 1913, Washington DC, USA) and the astrological narrative of our path to the 2008 world banking crisis in my book Economy, Ecology and Kindness.