The scenario is wearily familiar. As Europe is hit by a new, "unprecedented" crisis, both the press and an array of senior European politicians start proclaiming the imminent "end of Europe" or the collapse of the European Union (EU) unless an effective response is rapidly devised. In the days and hours before the hastily convened "emergency" meeting of the European Council, this "make or break" rhetoric ramps up still further, with the blood-chilling predictions of how close to the precipice Europe already stands, ensuring that maximum attention is directed towards the Union’s heads of state and government as they gather. But inevitably the agreement that does emerge from the ensuing all-night marathon encounter in Brussels receives a highly mixed response.