The European Union (EU) has enabled economic prosperity and security to the countries of Europe since it was founded in 1958. However, in recent years the continent is in the midst of a multi-dimensional crisis that threatens to erode the cooperation among the states, compromise economic stability and undermine security. The main dimensions of the crisis include the economic crisis, the immigration crisis, the crisis of democracy and the rise of right-wing parties, the withdrawal of Britain from the EU (Brexit) and the concern that other member states might follow, and the security challenge from Russia. Is the EU, its institutions and policies, part of the problem or part of the solution for these issues? Will Europe continue to enjoy security and prosperity in the next few decades, or are we facing a new era, reminiscent of darker times in the history of Europe?