The role of independent authorities in the new European economic governance
Professor Pascale Idoux, from the University of Montpellier in France discussed the role of independent authorities in the new system of European economic governance.
Speaking during a conference held in Malta for the second time by the European Public Law Organisation (EPLO) yesterday, Prof. Idoux spoke about how an important part of European economic governance was actually entrusted to authorities independent from politics. These included courts, central banks and different regulatory authorities.
Prof. Idoux said that the new European economic governance currently in place confirmed this trend, and as a result has been occasionally criticised as being democratically deficient.
“Looking toward the future, the question is where the line between political governance and independent economic regulation will be drawn.”
Prof. Idoux said that the outcome ultimately depended on the designated roles of the independent authorities.
“Are they temporary instruments conceived for European integration, or structural instruments for continued good governance?”
“Whatever the function of these independent authorities, their proliferation could be a factor in improving the democratic nature of the future European economic governance.”