Greek referendum: Democracy has junk status

2 November 2011
Frankfurter Allgemeine Zeitung Frankfurt

He who submits a vital issue to a referendum is a public menace to Europe. This has been the message from the markets – and since Monday night, from the politicians too.

Two days – that’s how long the newly won stability of the European elites lasted. Two days between Merkel as godmother, with the eyes of all the world on her, and that plunging feeling. A clinician could describe what this is: a pathology. He could describe how sick the collective psyche is, how untrue and self-deceiving the fantasies of omnipotence and self-confidence that it allowed to blossom.

Horror in Germany, Finland, France, even in England, horror in the financial markets and the banks: horror, horror, everywhere – just because the Greek Prime Minister, Georgios Papandreou, plans a referendum on a fateful question for his country.

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Translated from the German by Anton Baer

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