How to improve the European economic governance
In the European Union, economic governance is not implemented through an elected body responsible in front of a Parliament, but it is conducted through three independent Institutions: the Stability and Growth Pact, the European Central Bank and the Competition Directory of the European Commission. The non coordination of these Institutions leads to the powerlessness of the economic government of Europe. Optimizing the European policy mix requires adjusting monetary and budgetary policies and exchange rates policies in order to reach the highest rate of growth without inflation and external deficit.