In these circumstances, the decline of traditional party politics and the substitution of political leaders with technocrats adds an extremely worrying element to this from the point of view of democracy. The new Greek prime minister, as well as the names that have been floated for the future prime minister of Italy, Giuliano Amato or Mario Monti, economists with distinguished careers in central banks or European institutions, are quintessential technocrats. The refusal of politicians to sacrifice control of either their past or future decisions to the people by way of early elections or referendums, highlights the fact that they are bowing down before the markets; that they don’t trust their own ability to resolve the crisis and, above all, that they suspect their legitimacy has worn out. And so instead of assuming their responsibilities, they step to one side and call in specialists who – supposedly – lack ideological bias and who – also supposedly – know the answers that will bring the country up out of the crisis. More
Wednesday, November 23, 2011
Democracy put to the test
In what looks like a new phase of the crisis, the tensions generated by the euro crisis are starting to destabilise European democracies. Almost two years of doubts and divisions, of a lack of the courage and political vision needed to adopt a European solution, are fuelling popular disaffection – as much towards national democracies as towards the European project itself. As we have seen in Italy and in Greece, the deepening of the crisis has political leaders up against the wall. On the one hand, they fear that if they adopt new and more severe austerity measures without compensating stimulus plans that would guarantee a level of economic growth, the people will end up turning against them and – whether from the streets, the parliaments or the ballot boxes – finishing them off. But at the same time, they know perfectly well that if they resist those same austerity measures, the markets will penalise them by raising their risk premiums and forcing external intervention – which would precipitate their downfall, or lead their European colleagues to withdraw the financial support they have been providing (which would precipitate their downfall too).