The Birthplace of Democracy is dead

Greece, being the birthplace of democracy, may well have become an undemocratic state with the recent bailout and the tension that exists between democracy and sovereignty.

As an article stated, “Tuesday’s bailout takes another such step by protecting the European Central Bank from taking losses on its Greek bonds, while forcing private bondholders to take losses of as much as 70% in net present value”. With the finance industry being protected at the expense of sovereignty, it is understandable that one would suspect that the intentions of the government have deviated from the common good for the people. Greece has been placed under control of the International Monetary Fund, the European Central Bank and European Commission. There are disciplines, surveillances, sanctions and punishments that are placed on the nation as a whole.

If a nation acts on behalf of corporate interests and is dominated by third party interests, like that of Greece, it seems that the democracy is inexistent. The question at the heart of this quandary is whether democracy requires full sovereignty. It is without doubt that this element is not satisfied in Greece’s situation.

http://online.wsj.com/article/SB10001424052970204909104577236982261339566.html

http://www.publicserviceeurope.com/article/1531/greek-bail-out-deal-an-affront-to-democracy-and-fairness