Democracy is tolerated until it threatens the 1%

From Charles Hugh Smith (my emphasis):

Greek Prime Minister George Papandreou’s call for a citizens’ referendum to decide the future of Greece is direct participatory democracy in action. Yet the European leadership and the Elites who need global markets to remain in nosebleed territory are outraged by this unscripted emergence of democracy.

The absurdly hostile reaction to democracy in action reveals the ugly, sordid truth, not just in Europe but in the U.S. and other faux democracies: democracy is tolerated until it threatens the global markets that empower the financial/political Elite. Then it becomes a mortal danger to be subverted or overthrown.

The message is clear: saving the Eurozone’s banks and Elite bondholders is more important than mere democracy or national sovereignty: banks which assessed the risks and offered loans to Greece on terms they reckoned profitable are now the victims who must be “rescued” by the debtors.

This entry was posted in Europe, Greece, human rights, politics and tagged , . Bookmark the permalink.

2 Responses to Democracy is tolerated until it threatens the 1%

  1. Andy says:

    You are talking as though democracy was the panacea for every problem.

    Unfortunately the greek problem was caused by greeks voting for socialism.

    • Phil Hunt says:

      Democracy isn’t the panacea for every problem. In fact it’s the worst possible way of governing a country — except for all the others that’ve been tried.

      the greek problem was caused by greeks voting for socialism

      Actually, for most of the 2000’s, the center-right New Democracy party was in charge.

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