Swedes prove Direct Democracy words there!

Just came across a very interesting use of a citizen-initiated referendum in Sweden. Back in 2003, according to the Economist magazine of Dec. 3, 56% of the Swedish people voted against the proposed conversion of their money (the Krona) over to the Euro. This was contra the wishes of most of their business and political leaders.

The yields on the current Swedish ten-year bonds have fallen below even that of the Germans. Who is smiling now? Once again it might be said that the common sense of the people has superceded that of the elites. An alleged flaw of using citizens to vote upon issues is that they do not know enough to be trusted that way. Well, how often has it been discovered that leaders are too easily misled, or are too enmeshed within their own powerful egos to be second-guessed?

In a democracy it is supposed to be the opinions of the majority of the voters who are to be listened to, when enough of them want such a vote. Sweden has proven once again that that is a good route to follow.