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Recovery a daunting task for 'PIGS' stuck in a financial quagmire, opines Ganesha.

Overall the future for the Eurozone nations seems bleak till the end of 2013 and all of them will have to follow a very stringent austerity-at-home policy to come out of this quagmire.

The Eurozone and the European Central Bank are now dealing with the ?PIGS? crisis. Portugal, Ireland, Greece and Spain for years, have been able to incur debts in a currency that was much stronger, at a much lower borrowing costs, than the old national ones. Bond markets have picked on Greece, punishing her for running up a budget deficit equal to 12.7% of GDP. Now their focus is on other indebted countries in the Eurozone.

There has been confusion about fiscal responsibility ever since the euro was created. Now with the bill falling due, it is a chance to set the record straight. Either they implement tough austerity measures subjecting their economies to savage recessions, or they can quit the euro and introduce a new currency. Either way, the outlook is grim. Equity and currency markets are jittery as central bankers seek a lasting solution.

It's a crisis, no doubt. At such a crucial juncture, Ganesha peers at the stars and tries to demystify the fate of the nations involved.



Portugal:
A look at the horoscope shows that the houses related to finance, their Lords and the aspecting planets all are not in favour of Portugal. The time period between 24/11/2011 to 15/03/2012 is critical for Portugal. There may be a major crisis with problems cropping up from the national savings front, cash flow front and economical growth front. Again during the time between 11/10/2012 to 04/12/2012 it will be besieged by problems. There are chances of strained relations with neighbouring countries leading to reduced financial help, chances of natural calamities like earth quakes and epidemics leading to an increased death rate. However specifically during the time period between 08/11/2011 to 10/02/2012 will bring in some respite from the miseries. The populace will be in support of the nation and if the country strives really hard, they stand a chance of coming out of this debacle.

Ireland:
The nation chart of Ireland is very sound, however as Saturn is retrograde, hence development are bound to be slightly slow. The financial troubles started brewing for Ireland since 31/04/2008, when Rahu entered Capricorn. The transits of malefics causes severe constraints in the financial inflow of funds, increase in the national indebtedness, reduction in gains. However the silver lining in the dark cloud is, there is a small window which may bring in fresh influx of money through education and speculation bringing some respite for the beleagured nation. Summing it up, Ganesha says that the troubles for Ireland are far from being over as there are more dark clouds looming over the horizon.

Greece:
A look at the horoscope shows that the ascendant and its lord, houses related to finance, their Lords and the aspecting planets all are not much in favour of Greece. The neighbouring and friendly nations won't be very supportive. However from 09/05/2011 till 18/05/2012, there is a window of strong support, specifically monetary support. But till the end of 2012, the GDP will be sluggish, the yield from petrochemicals, auto industry, infrastructure industry, agriculture, mining industry will be less. The national leader will assailed by problems. Greece will have to maintain very adjusting attitude with financial partner countries, focus on speculation to get out of this mire.

Spain:
Spain's problems started from 13/102006 when Rahu entered Aquarius. It assailed Spain's finances initially for one and a half years, then the populace of spain and then it bloated the the national liability of Spain, the effect of which we are seeing now. Its present transit is affecting the friend nations, government security. Greece would feell a reduction in seculative dealings, volume of gains, education sector, child birth rate. The only sectors that may help Spain come out of this problem are agriculture growth, infrastructure industry, mining industry and the auto industry. However on the whole the time till 2013 is very difficult for Spain.

With Ganesha's Grace
Dharmeshh Joshi
The GaneshaSpeaks Team