Larry Siedentop

Europe's Greatest Deficit Is its Democracy

Jeff Cimbalo | Posted 01.08.2012 | Canada Business
Jeff Cimbalo

Soon-to-be-former Greek Prime Minister Papandreou had the right instinct calling for a referendum on the austerity package. There has been a long-stranding "democratic deficit" within the European Union, with major decisions being made without the input of the Union's citizens. The latest crisis is only increasing this deficit.