Acid test for economic technocrats in the European Union

French economy minister Emmanuel Macron is the latest technocrat to be appointed (photo: dpa)
French economy minister Emmanuel Macron is the latest technocrat to be appointed (photo: dpa)

Professional economists rather than politicians are being called in by political leaders facing economic difficulties. French President Francois Hollande is the latest to follow this path. But such appointments can spell danger when the technocrat fails to understand that their role is the scapegoat for government failure and not a pathway to international economic stardom.

France’s new economics minister Emmanuel Macron is not a politician, but a professional economist and former investment banker. French President Francois Hollande needs him to please both French business and EU authorities. Italy has appointed research economists to run the economy for many years - with mi...

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