Cyprus – Tax on savings causes public panic

Late yesterday, the Cyprus Government dropped a bombshell that not only upset their own population but might also send shockwaves right across the European Union. The Greek controlled part of the divided island has been in a financial crisis in the past year, and as part of an agreed bail out from the EU it has decided to tax people’s savings and bank accounts. Not just the wealthy are affected, this is a blanket tax charging 6% on the ordinary Cypriots and up to 10% on the wealthy. It not only applies to the local population, it extends to foreign nationals too. This has caused consternation and people have rushed to banks to withdraw their money to avoid any penalties. The worry across the continent is that other financially struggling European nations might consider passing similar laws.

I have placed the natal chart of Cyprus formed when Cyprus gained independence form the UK (16th Aug 1960, Nicosia – midnight) at the top and current transits below. The transits chart is very striking as you will see huge pressure aimed directly at the Moon Mars conjunction sitting in the Cypriot 12th house of hidden affairs and suffering.

That conjunction is under pressure from a yod aspect, formed by two inconjunct aspects from transiting Saturn in the Cypriot 6th house and Pluto in the 8th. On the Cyprus chart Scorpio rules the 6th of the ordinary workers and Capricorn the 8th of debt, banks, financial institutions, taxes and change. This yod focuses on the 12th house of issues that cause suffering and pain. The Moon, through it’s sign Cancer rules the Cypriot 2nd house of personal finance, and Mars the planet of action through Aries rules the 11th house of national legislation. Transiting Jupiter which sits at the point of the yod in the heavens right now is also conjunct this Mars Moon conjunction and through it’s sign Sagittarius which sits on the cusp of the 7th house of dealings with other countries, we see a link to the conditions imposed by the EU. Putting all this together, Cyprus is having to make structural reforms (Saturn sextile Pluto) through legislation to the money system (11th house/2nd house), and this is required so that they can receive the money that is promised. As a result we have anger (Mars) and a severe emotional reaction from the people of Cyprus (Moon).

The nature of this surprise decision is seen through the transiting Nodal axis which is still square to the natal Cypriot Sun Uranus conjunction. Fate (Nodal axis) has been turning it’s hand and causing the Cypriot government (Sun/Midheaven – ruled by Aquarius) to make some very radical (Uranus) decisions.

Transiting Mars and Uranus are now moving into a volatile conjunction and they will be making trine to the natal Cypriot 3rd house Mercury in the next couple of days. I can imagine that there will be widespread angry vocal protests, getting more and more agitated, probably at their peak by 22nd March. With this conjunction inconjunct to Pluto and Venus in the 4th house there is going to be widespread opposition (4th house) to this measure, and it could get quite nasty and destructive (Pluto). Keep your eyes on Nicosia…

*****Update – 19th Mar 2013*****

It looks like the Cyprus government is backing down, a little. After protests especially from the poor, they are adjusting the law not include anyone with savings less than 20,000 Euros in their bank.