Rewriting the Rules of the Game: The Democratic Monetary Convention
This chapter proposes the deepening of current western democracies towards “sovereign democracies” which means that the sovereign body—in a democracy the citizens—should truly become the “highest instance,” which is the literal meaning of “sovereign” in Latin. A true sovereign would enjoy “sovereign rights” ranging from the right to write and reform the constitution to the right to legal initiative and referendum. With few exceptions, such sovereign rights hardly exist in any country to date. The first and foremost sovereign right is the right to rewrite the supreme document in a democracy: the constitution. A process how the sovereign could reform the constitution is presented. The process would start in the smallest political units: municipalities or regions. The voting results of local assemblies on the future monetary system would be synthesized on national or international level and finally voted on by the sovereign citizens becoming part of national constitutions and the European Treaty.
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