The setback after decades of more thoroughly dominant rule under Lee Kuan Yew and his successors came as opposition candidates were able to make fuller use of social media and other Internet communication.

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The currency regime that would succeed it would mean the re-emergence of the mark as the Continent's dominant currency and rule by the German Bundesbank, which is even less accountable to Europe's public than the European Central Bank.

BBC: Referendum St

It will be new players who come to rule this market, not previously dominant names like Nokia or RIM, he contends.

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