July 14, 2015

Sovereign rights should refer to the nation rights of citizens, and not to the nation rights of government bureaucrats.

Sir Gideon Rachman, in his very clear-eyed and straight talking “Germany’s conditional surrender”, July 14, mentions: “Much of the comment about the loss of Greek sovereignty, in the outline deal just agreed”

“Greek sovereignty”? As I see it “Inalienable sovereign rights" have lately just become a convenient wording for what government bureaucrats consider to be their rights… or statist ideologues consider to be the rights of ever more powerful governments.

The day sovereign rights refers more to the nation rights of the citizens, than to the nation rights of governments, that’s when sovereignty has a chance to get on a real track.

Meanwhile bank regulations that assign a risk weight of zero to government debt, and 100 percent or more to private sector debt, has absolutely nothing to do with any justifiable sovereign rights… much the contrary it has only to do with government bureaucrats' clientelism.