Attack of the Euro Wonks

Political, not technocratic, leadership is what the euro zone needs now

Illustration by Harry Campbell for TIME

Italians have a name for their new leadership: Government Sachs. It's a nod to the fact that the technocrats taking over European governments have shockingly similar backgrounds. "Super Mario" Monti, Italy's Prime Minister, and Lucas Papademos, the new head of Greece, are both U.S.-trained economists who were top E.U. bureaucrats before taking on their current posts. Monti did a stint at Goldman Sachs, as did the recently appointed head of the European Central Bank, Mario Draghi.

On the one hand, it's reassuring to have a man who taught a class at Harvard's Kennedy School titled the Global Financial Crisis: Policy Responses...