In this study we compare the strain rates obtained from earthquake moment tensors in the time interval 1911--92 in Greece with measured velocities of SLR stations relative to Eurasia. We find that the SLR measurements do not require strain different in orientation from that seen in the earthquakes, but simply more of it. The clearest deficit is in the SE Aegean where earthquakes this century can account for virtually none of the measured SLR strain rates. By contrast, in the northern Aegean and NW Turkey the earthquakes can account for a substantial part (>50%) of the measured strain rates. By using both geodetic and seismic data to localize apparent deficits in seismically-released strain, this study represents a first step towards using space-based geodesy for crude regional seismic risk assessment. ¿ American Geophysical Union 1994