According to Graham(2002), in the description of democracy three indispensable elements should be singled out (p.21). They are the sovereign character of the people, common suffrage as well as decision-making by majority. One could see that these aspects are without a doubt crucial elements by picturing a governmental system where they are omitted. No matter how serene and wealthy a cult... read more

The term paper discusses the adverse effects of the current Eurozone crisis on the economies of the developing countries. Overall, during the last few quarters of 2011-2012 the economies of the developing countries remain vulnerable to the euro zone crisis. The crisis has caused trade shocks in the lower-income economies, while the European debt crisi... read more