A New Democracy

link to italian version Sure, we can complain about the ability and the effectiveness of the firemen, but please don’t forget who really set Greece on fire: its political class. They’ve fixed their accounts and squandered the opportunity of issuing their debt in € – which would have left savings for recovering, and were given away for consensus instead.

The elections to be held on June 17th will be a referendum de facto, concerning the possibility of a Grexit (and in the last resort about the existence of the single currency) – and EU members together with the representatives of the national governments hope for a positive outcome favouring the guidelines of austerity and maintenance of the commitments taken with the Trojka. That is, a positive outcome for the party which has led Greece into the current situation: Nea Democratia (New Democracy)…one of the several paradoxes we live in.
The real shot in the arm for Greece would be accessing funds with zero interest, not at the punitive rates conceived by the Teutonic attitude. But – understandably – the institutions granting these funds would need a guarantee for a shift to be made in the management of Greek public finances. And in order to get this, there should be a change with trustworthy representatives – technocracy then, no longer democracy. It’s quite clear to me that we can’t aim to this target.
Actually, I’d say it’s time for us to conceive a new democracy. Please, think about it: are we living in a true democracy? Is it trustworthy? Would you fight for it until the end?
Democracy (i.e., government by the people) is supposed to be a formula able to guarantee the people the possibility of governing. Almost every modern democracies is indirect: the people elect their representatives, who are delegated to legislate.
Where’s the problem then? Nowadays, the EU is composed by several members, and according to the rules now each of these members can veto every single decision about European initiatives – hence, ultraconservative policies which can open the doors to financial speculations. Some countries, Greece first, had lost their power, and run at reduced sovereignty – which could lead to a new dynamic where the power to veto is held by less members, with the creation of a Pro- and a Second- League. As citizen of a democracy, I’ve got to say I want something more: I demand the possibility of electing someone who can state something different than “no”.
It’d be also useful to remember that we live a situation in which, thanks to the fall of national boundaries, enterprises are free to move wherever they find a less demanding legislation, without care for national borders. On the other hand, borders are still the limit for legislation. That is, national rules for an international market.
Defending this kind of democracies (no matter if they use € or not) appears to be connected more to sensibility than to sense. We would be supposed – we’ll, I’d say we would have the right to demand a New Democracy, where we’d be elect true representatives. And they should act: a new European Parliament as a superstructure on national governments, able to highlight democratic proposals coming from Spain, Germany, the Netherlands or Italy. This should be a right for us – and one of our interests, too.
But if we really want to agree with Marl Twain when he said:

“If voting made any difference, they wouldn’t let us do it”

then we would be listening to the barkers telling us stories about bad finance, Goldman Sachs conspiracies, Euro traps, Germans’ stubbornness (even foolishness)…well, the matter is that those story-tellers aren’t giving us a simple, yet terrible, truth: that is, shame on us, first.
Our horror at the infringed PIIGS democracies, already considered by someone as deprived of all democratic instances by history, is truly romantic indeed. But instead of being discouraged by the debasement of democracy of the peripheral countries, we should seize this occasion for demanding a real, active role in our Democracy. And this is not for displacing a populist government with a technical one, but because, considering that we all are boarding the same aeroplane, our representatives should be allowed to pilot that plane – instead of being 1st class passengers of our flight.
I do prefer this Mark Twain’s quotation:

Soap and education are not as sudden as a massacre, but they are more deadly in the long run.

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About bimboalieno

Operatore finanziario professionale dal 1998; ha collaborato con diverse banche italiane ed estere. Si può scoprire dell'altro cliccando qui. Oggi é responsabile di un centro di Private Banking. Professional financial trader since 1998; he has worked with several Italian and foreign banks. You can learn more here. Bimboalieno is currently in charge of a Private Banking centre.