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Just look at the following recent piece by an FT editorial writer: Democracy at the heart of fight for Greece (Martin Sandbu, August 9, 2015)
The biggest question raised by Syriza's election victory last January was not about Greece. It was whether any national population that has adopted the euro can meaningfully express a democratic choice. This is a test case of the euro itself. If monetary union and democracy are incompatible, even the euro's most committed friends need to choose the latter. Fortunately, they are not incompatible. But European policy is premised on the opposite view. Without a change in approach, it must lead to failure ... It is the expression of this particular preference -- keep the euro, but with different policies -- that the eurozone political elite has done everything it can to prevent. Is this justified? There are three interpretations: one disingenuous; one charitable; and one cynical. All are deeply troubling for any democrat.
This is a test case of the euro itself. If monetary union and democracy are incompatible, even the euro's most committed friends need to choose the latter. Fortunately, they are not incompatible. But European policy is premised on the opposite view. Without a change in approach, it must lead to failure
...
It is the expression of this particular preference -- keep the euro, but with different policies -- that the eurozone political elite has done everything it can to prevent. Is this justified? There are three interpretations: one disingenuous; one charitable; and one cynical. All are deeply troubling for any democrat.
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