The paper argues that there has been an attempt to weave a political myth of crisis in the European Union; that is, a sacred narrative that emplots the role of crisis as a catalyst for further integration. Drawing from narrative theory, it argues that the current economic crisis has shown the limitations of this narrative that stem from the lack of a coherent political vision about the future of the European Union. The problem is not that the narrative of crisis is a myth but that it is not a successful myth in that it does not provide a cognitive and normative map for how to govern the EU.