Earlier quoted context omitted.
What if the consequences are instability or large scale war?
Well, what if? You're essentially arguing that if our benevolent overlords decide that the democratic process might result in something unfavorable that they should do the wise thing and ignore the will of the people.
"the will of 52% of the people" doesn't quite have the same ring to it.
I'm not claiming that I don't understand the concept of referendum by simple majority - merely that there's a certain duplicity in the sanctimonious language being used to describe the result.