GREECE - 3RD HELLENIC REPUBLIC

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Transits July 1, 2011 - Solar Eclipse @ 9* Cancer 12'

The partial Solar Eclipse of July 1, 2011 @ 9* Cancer 12' falls in the 12th house conjoined natal Mercury and Saturn. 

With Mercury the eclipse brings an intellectual crisis of ideas previously held sacred that are now seen as sheer stupidity as the Greeks are challenged to begin thinking and scrutinizing things they've never before considered.

With Saturn the eclipse brings the opposite house (6th) into focus as the area of greatest responsibility to the country's workers, the laboring classes, labor organizations, wage conditions, employment and unemployment, and civil service and the fact that the time has come to shoulder these responsibilities and pay the price for wrongful action.

Today European Union leaders are gathering in Brussels attempting to prevent the default of debt carried by Greece and the collapse of the euro in the next week as they begin negotiations on a second bailout for Greece in an effort to meet the deadline of a July 11th meeting of EU finance ministers.

Looming on the horizon is the June 29th vote of Greek MPs on an austerity program, which if lost would set the scene for a 1930s style crash, as the euro zone threatens to withhold the next EU-IMF payment, setting Greece up on the path of default.

Meanwhile, on Wall Street the on-going debate is whether a Greek default would interfere with the industry's process for unwinding credit-default swaps.