Friday, December 2, 2011

Can 'Technocrats' Lead Europe Out of Its Financial Crisis?

The delicate economic situation currently facing some countries in the eurozone has led to meaningful changes in the governments of those nations. The so-called "politicians" have stepped aside, paving the way for the "technocrats" -- leaders with technical and economic expertise, whose role is to find solutions that are effective and go beyond ideological or political considerations.

 “A technocrat is someone who has a proven technical skill in very specific areas,” says Federico Steinberg, chief researcher in economics and international trade at the Real Instituto Elcano and professor of economic analysis at the Autonomous University of Madrid. “They are backed by their long experience. They don’t usually belong to any political party. The key is that they have the skills to be able to undertake reforms and make decisions that are unpopular because they are not worried about being reelected in any democratic elections.”
Nevertheless, Angel Saz, professor at ESADE’s Institute of Governance and Public Management, notes that “the dichotomy between politicians and technocrats is wrong and not a useful one.” However, he recognizes that “some politicians are not prepared when they get into positions of power.”

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