Debt crisis shakes the markets – and confidence in democratic governance
The list of victims is growing. Since 2009, economic and financial turmoil has resulted in governments in Ireland and Portugal being ousted. In the last week, the continuing debt crisis has claimed leaders in Greece and Italy.
The impact of the debt crisis, exacerbated by a perceived loss of sovereignty to the IMF and the European Union, is raising “prickly questions of democratic legitimacy,” reports Reuters.