The Crisis and European Governance Politique étrangère, Vol. 74, No. 1, Spring 2009

The financial crisis hit European institutions that are already shaky. The French presidency gave the illusion that the European Union was well governed, even if the rules remained unchanged. The European Central Bank is presumably the institution which held best, while the European Commission became marginalized. Furthermore, the European Council has not proven autonomous enough in respect to the bi-annual presidency. As for the Lisbon Treaty, it is unsure whether it will be able to cure the European Executive’s persistent weaknesses.

Philippe de Schoutheete, former Permanent Representative of Belgium to the European Union and former special advisor to the European Commission, is a member of Académie royale de Belgique.

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