In case you missed it, over the past eight days, the prime ministers of two major European nations stepped down. The newly appointed, not elected, leaders of Italy and Greece will be Mario Monti (formerly of Goldman Sachs) and Lucas Papademos (formerly head of the Central Bank of Greece). A signal that marriage between capitalism and democracy is coming to an end? The Independent writes:
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The ascension of Mario Monti to the Italian prime ministership is remarkable for more reasons than it is possible to count. By replacing the scandal-surfing Silvio Berlusconi, Italy has dislodged the undislodgeable. By imposing rule by unelected technocrats, it has suspended the normal rules of democracy, and maybe democracy itself. And by putting a senior adviser at Goldman Sachs in charge of a Western nation, it has taken to new heights the political power of an investment bank that you might have thought was prohibitively politically toxic.