Debt and Democracy
The EU’s sovereign-debt crisis constitutes a fundamental threat not only to the euro, but also to democracy and public accountability. Indeed, the principle of not reneging on public debt is is deeply intertwined with the development of legal security, representative government, and modern democracy.
https://prosyn.org/5FGIz65
PRINCETON – The European Union’s sovereign-debt crisis constitutes a fundamental threat not only to the euro, but also to democracy and public accountability. At the moment, Europe’s woes and dilemmas are confined to relatively small countries like Greece, Ireland, and Hungary. But all of them look as if their governments have cheated on fundamental articles of the democratic contract.