Debt And Democracy Don't Mix

IT HAS been a very turbulent week for the markets but also a very important week for democracy. The solutions to the European debt crisis seem to sidestep democratic government. The Greeks have appointed a former banker, Lucas Papademos, as prime minister and the Italians seem to be heading for Mario Monti, an academic and former EU commissioner. The idea, presumably, is that these candidates "“ who stand above the political fray "“ will be able to take the unpopular decisions that other politicians shrink from.