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16 November 2011updated 26 Sep 2015 9:46pm

Government of the technocrats, by the technocrats, for the technocrats

Democracy must not be regarded as merely an optional extra when solving economic problems.

By David Skelton

Greece and Italy now have new Prime Ministers. Neither of them have had to endure the indignity of actually standing for election. New Italian PM, Mario Monti, is a former European commissioner and an economist. Lucas Papademos, the new Greek Prime Minister, is a former Governor of the Bank of Greece (there is a great irony in a central banker being imposed as Prime Minister following a debt crisis fuelled by poor central bank decisions and a collapse of the banking system).

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