Alarm is rising about a collision between Italy’s new populist coalition government, which campaigned for lower taxes and higher spending, and the EU. The suggested Minister of Finance, Paolo Savona, has to date been vetoed by the Italian president which is evidently his prerogative. Savona is a vocal critic of the euro, deriding it as a “German cage”. The Italian economy has stagnated since joining the common currency because it has not been able to devalue when the going got tough. The EU’s German budget chief Oettinger warned that the EU’s rescue fund was not big enough to bail out an economy the size of Italy.
An Italexit would be much more damaging to the EU than Brexit though there’s no suggestion they intend to leave; they plan to stay in and defy regulations.
The Italy 17 March 1861 chart looks confident though frustrated through this year; with a critical time around the August Leo Eclipse and the two months beyond. The relationship chart with the EU is blocked and tense this year with tr Saturn opposition the composite Pluto, Uranus till late year; and then conjunct the Neptune for an uncertain 2019. Again it shows this August and beyond as a crisis point; with a struggle for the upper hand in 2019.
The Bank of Italy chart, 10 August 1893, also looks rattled by the August Eclipse and will be prone to impulse decisions and rash judgements. With considerable disruption in 2020.
The EU itself is heading for a minor to major financial catastrophe in exactly a year’s time, though in effect before then, as the Solar Arc Pluto is conjunct the EU Neptune, undermining false high hopes and shafting a spear through their bubble. Starting in 2019 tr Uranus first opposes that Neptune, before moving from 2021 onwards through a truly difficult period of financial disruption as tr Uranus is conjunct the 8th house EU Moon and squares Uranus, then squares the 5th house speculative Venus.
Even before then from this July tr Uranus trines the EU 12th house Pluto, perhaps shining a light on dodgy practices behind the scenes, and forcing through change with considerable upheaval. That runs into 2019 as well.