Is Europe failing? At a time when Europe is facing a relapse into economic recession, trends of renationalisation as well as an unseen accumulation of security-related crises in its neighbourhood, Fischer’s provoking question is certainly timely. He approaches the question by reviewing the historical and political reasons underlying Europe’s internal and external crises. The analysis highlights mistakes made in the management of the euro crisis and underlines the Union’s important strategic deficit in foreign and security policy. Fischer draws a number of lessons from the parallel crises and links them to the difficult question of the Union’s finalité politique: should we opt for a ‘Europe of motherlands’, a ‘lose confederation’ or will we eventually need a ‘United States of Europe’ to prevent Europe from failing? As a true federalist, Fischer advocates the last option and presents some of its essential building blocks.