I think the idea of referendum is ridiculous

This is going to be a short piece, also a very basic one on the topic. My arguments may sound too naive- I don’t have much knowledge of this but still I wanted to write this here, at least it’s an original thought. We will see another referendum soon, in the UK, to decide whether it should stay in the European Union (EU) or not. Google defines a referendum as “a general vote by the electorate on a single political question which has been referred to them for a direct decision”. Which means that the government asks the people whether it should go ahead with a particular decision or not. The last major referendum we saw was also in the UK- the Scottish people were asked whether Scotland should be an independent country or should it continue as a part of the UK. Majority of the people who voted wanted to continue and hence Scotland remains in the UK. One happened in Greece recently where the people were asked whether to accept a bailout package or not. People said yes.

My problem with any referendum is that it presents a very complex political question of serious and long lasting consequences of all kinds to people who may not be in the best position to judge. I mean, the average citizen is not equipped enough- with information and capabilities, to take a call on matters that referendums normally are about. Continue reading I think the idea of referendum is ridiculous

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What is happening with Greece?

Greece has been all over the news for the past couple of years, mostly for the wrong reasons. Words like Grexit, troiko, and IMF and names such as Alexis Tsipras, Yanis Varoufakis, and Angela Merkel have become too familiar. What most of us know is that the country is in a mess. A lot of us may not know why. Well, here is a short (may be incomplete) guide (for the laymen, not economists!) to the troubles in Greece and its present state of affairs. Continue reading What is happening with Greece?