The cause of slow-growing European economy lies in the absence of a political European government, more than in lack of technological and innovative potentialities. Nevertheless, Europe has continued to follow the pre-euro development path: a collection of small and medium countries continue to carry out a competitive disinflation policy. There is plenty of evidence that this is the wrong policy. Indeed, Euro-nations run the risk to lose their role among the richest nations as well they need high degrees of coordination and a unique strategy to succeed.