ABSTRACT
This chapter analyses the links between the Treaty of Lisbon and economics: its purposes, the disputes it tries to avoid, the presence of the shadow of the European socio-economic model to be found within it and its dispositions towards monetary and economic governance. The current crisis, the growing euro imbalances and the crash of the euro heavily underline the great challenges faced by Europe and the serious limitations of the European Union system. Aside from the Treaty of Lisbon, new elements in European economic policy are being developed. This discreet method minimizes the risk of public dispute, even though it enlarges the democratic deficit and diminishes hope for the European Union. The European financial stabilization mechanism can remain virtual or can generate high costs. It depends on the capacity of the new European economic governance rules and institutions to help member states (MS) to steer their economic policy mix into a cooperative path.
