As Timor-Leste moves towards marking the 10th anniversary of its independence and completing the third round of its national elections, the question arises as to whether it has consolidated its democracy. The assumption is that consolidating democracy is a necessary step towards ending internal conflict and regularising the affairs of the state. But, the second question is, when one talks about consolidating democracy, what they mean by the term? Having three sets of elections at regular intervals is certainly a good sign of democratic consolidation in Timor-Leste. Yet elections alone do not comprise democracy. Indonesia had regular elections between 1977 and 1997 under its New Order government, yet it was very far from being a democratic state at that time. It is not enough to have the formal procedure of democracy; one also requires the substance, if the term is to have meaning.