May 162012
 

The Greek economy is a tiny fraction (2%?) of that of the eurozone.

The economy of the eurozone is a fraction of the global economy.

The population of Greece is about 11 million, a small faction of 1% of the population of the world.

Yet a democratic election in Greece is feared in financial circles across the world! The global impact of Greece exiting from the euro would be many times the size of the Greek economy.

Politicians and economists want Greeks to take the rest of the world into account when they vote. But that is really a contradiction of democracy! The Greeks should be able to vote as they choose, with their own needs and preferences in mind.

How did this mind-bogglingly stupid situation arise?

Doesn’t it prove beyond doubt that the interconnectivity of the world’s financial systems, and their appalling lack of regulation and disregard for the rights of others, is fundamentally opposed to the concepts of the Enlightenment, such as Human Rights and Democracy?

Further reading (31 May):

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