The world has come to a fine mess when a vote in the obscure Slovakian parliament can threaten to de-rail the Euro bailout.
Of course, in many ways this present an interesting dialectic; the European Union has no direct democratic mandate which is one of the main reasons it is so unpopular yet at the same time is unable to control member parliaments.
In times of crisis, the power of the periphery increases with the current model. Everyone focus's on the German Constitutional Court - yet it is the Greeks, Finns and Slovakians - collectively barley even decent German state in terms of population, let alone economic power, who have the whip hand.
Worse though is that the logical resolution is to make EU policies directly enforceable on majority voting - but there is no real institution to make this happen. The whole structure is not able to cope in times of crisis and the impetus to reform is gone (not that it was ever there, Euro elites not being obvious fans of democracy).
But now, in 2011, with the potential of a new 1930's style depression upon on us, it is a rather awkward time to discover the flaws in the process. In the next few weeks, I think we will be hearing a lot more of the True Finns (party membership 5000 in 2011) and other groups who, bizarrely, will help to decide the future of the Euro and the World Economy.