Democracy has regressed in 15 out of the 17 euro-area countries since 2008, according to the Economist Intelligence Unit’s democracy index. As Bloomberg Brief's Niraj Shah highlights, the index in Greece fell by 0.48 point between 2008 and 2012 as economic policy was increasingly influenced by the ECB, the EU and the IMF, instead of elected politicians. The index in Germany also fell 0.48 point in the same period as membership of the major political parties and election turnout dropped. Finland is the most democratic nation in the region, by the EIU measure, which started in 2006 and is based on 60 indicators in five categories including electoral pluralism, civil liberties, political participation and culture. We are sure Nigel Farage will have something to say about this dismal loss of sovereign control.
As Nigel Farage ha snoted inthe past, this loss of democracy will eventually lead to "wholesale violent revolution"
Source: Bloomberg Briefs (@economistniraj)