The lack of economic governance has been regarded a major factor contributing to the escalation of the economic crisis. The EU has addressed the issue e.g. by adopting a ‘six pack’ of governance regulations. The objective has been to secure healthy national fiscal policies and create a warnings system for problems on a macroeconomic level. In addition, the union has made further efforts to coordinate economic policy under the European semester architecture. Are the fiscal discipline and budgetary control regulation sufficient in resolving the current crisis – and in preventing another in the future?This is the second session of a series of lectures on "EU Economic law in a Time of Crisis" organised by the Institute for European Studies at the Vrije Universiteit Brussel.