Abstract
There is no doubt that, as a result of the public finance crisis in all the
Euro zone countries and also some other European Union member states,
the European Union institutions once again strive to confirm their reliability
both in Europe and on the global arena. The Treaty of Lisbon, which
is being implemented, built formal foundations of changes that are aimed
at that direction. It provides that the European Citizens’ Initiative will be
introduced, there will be a change in the European Parliament election system
and national parliaments will be given more rights in the European
Union decision-making process. Special attention should be paid to sparing
no effort to show the European Union citizens that the European Union
can be a real and effective formula for finding remedies for the crisis. The
stakes are high in this game. In fact, it is the question regarding the future of
the European integration, i.e. whether it will be the Union of strengthened
political cooperation around home market and the Euro zone or the Union
weakened by conservative nationalism focusing on suggestions made in some
states that it is necessary to search for alternative to the European ways of
fighting against the crisis.