Referenda: A break-down of Democracy? Really?

I've heard a number of politicians this week referring to the referendum on EU as several things: bypassing Parliamentary democracy is one, a break-down of Parliamentary democracy is another.

In both cases there is an overwhelming assumption that Parliament has the monopoly on democracy. Apparently according to MPs, there is no other option to exercise democracy that through them.

How fucking arrogant of the entitled pricks to think that we, the people that put them where they are, can't be trusted to exercise democracy directly in a vote.