"Welcome, Mister President!" headlines Handelsblatt in the wake of the definitive “yes” voiced by Angela Merkel for the appointment of Mario Draghi – currently governor of the Bank of Italy – to the presidency of the European Central Bank (ECB) next October. Wrong-footed by the withdrawal of "her" candidate, Bundesbank chief Axel Weber, the German Chancellor has been slow to react, remarks the Düsseldorf business daily. "With the euro crisis in full swing, she felt that she would be unable to impose a banker from a state identified with inflation and public debt on the German people," writes Handelsblatt. However, the newspaper also points out that Draghi passes for a proponent of stability, and as an Italian he will have experience required to keep southern member states on the road to stability. "The appointment of Draghi is not enough to guarantee the future of the euro. However, the chances of a return to stability have increased: Mario Draghi is the right man at the right time," concludes the German newspaper. Its Italian counterpart La Stampa notes that "Draghi has been invited to sit on a hot seat, at the worst moment in the history of the euro, and at a time of widespread confusion in financial markets. The most urgent and difficult task facing the ECB president will be to avoid a restructuring of Greek debt on the one hand, while guiding the Greek economy – within a reasonable time frame – back to a point where it will be able to settle its debts on the other. Similar policies will have to be established for Ireland and Portugal, which are also caught in the grip of ‘financial malaise’".
The leader of Greece’s leftist alliance SYRIZA is the new bright hope of Greek politics. Steering a course between pragmatism and the rhetoric of class warfare, he has unsettled Berlin, and not just those who back Angela Merkel's austerity policies. 
Europe’s economic woes have forced us to try to understand the secret Olympian world of global finance. But now that we pay more attention to bond yields and stability mechanisms, isn’t it clear that the experts up on their lofty peaks don’t know what’s going on either? 
This year’s Eurovision Song Contest is hosted by Azerbaijan, a country that is far from being a model democracy. An Estonian journalist takes a critical look at the deferential treatment enjoyed by the regime in Baku.