Europe tries government/industry "partnership"

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It's a fact that Europe has a long history of experience in government/industry "partnership," dating back to Renaissance-era royally chartered corporations up through its 20th century experiments with centrally controlled fascist and socialist economies. But now we have the governments of Greece and Italy, the very cradles of democracy, diving head-first into partnerships that must be the envy of American corporatists:

The question now, in both Italy and Greece, is whether the technocrats can succeed where elected leaders failed — whether pressure from the European Union backed by the whip of the financial markets will be enough to dislodge the entrenched cultures of political patronage that experts largely blame for the slow growth and financial crises that plague both countries.

Some said there was cause for optimism. “First, the mere fact that they have been asked in such difficult circumstances means that they have a mandate,” said Iain Begg, an expert on the European monetary union at the London School of Economics. “Granted, it’s not a democratic one, but it flows from disaffection with the bickering political class.”

To understand the government/industry partnership aspect, you need to know that the new "technocrat" Greek Prime Minster, Lucas Papademos, is an MIT-educated economist who has worked for the Boston Federal Reserve Bank and the European Central Bank. Italy's new PM is likely to be "technocrat" Mario Monti: economist and politician, a two-term member of the European Commission, European Chairman of the Trilateral Commission, and international adviser to that most ancient of US democratic institutions, Goldman-Sachs.

Atrios translates this trendy new European "technocrat" phenomenon for regular people:

Well the consensus seems to be we need to just install bankers as the leaders of all the countries, and the only way any of us can survive is if all the richest countries of the world are turned into 3rd world hellholes after the middle class gives all of their money to rich people.

I believe this concept is what is really behind the sentiment expressed by certain celebrity pundits that what American really needs is a billionaire philosopher-king like NY Mayor Michael Bloomberg at the helm because, after all, he's so rich that he has no reason to seek personal gain from the presidency. Mitt Romney is the poor man's Michael Bloomberg.