In 2009，Europe was seriously hit by the global financial crisis，which exerted profound impacts on European economy，politics，society and foreign relations. To go into the matter with thoroughness，it is closely related to the fact that the capitalist economy is prone to cyclical crises. Moreover，it is bound up with the overexpansion of European virtual economy，regulatory and supervisory failures，as well as the closeness of EU-US trade relations. In order to cope with the crisis，a variety of measures，including carrying out financial bailout plans，redefining the regulatory and supervisory system of the financial sector，supporting the development of real economy，safeguarding employment and initiating international coordination，were implemented，which were proved effective，indicating that the EU was not split by the crisis. The European model which stresses coordination and unity still possesses formidable vitality and cohesion.