The Second Edition of this book reviews the fundamental principles of the Institutions and Law of the European Union and expands on EU Competition Policy, international trade with third countries, and enlargement strategy, including the access to membership by Turkey. The new edition features updates on regulatory and policy developments up to summer 2016 and critically examines Europe's situation, following the crises in 2015 and 2016. The author critically evaluates the recent positions taken, and predictions made, by politicians and academics in respect to the Union's future direction. He presents his own views and discusses potential developments in the shape of of the EU in the coming decades. The book is of academic content and standards, but it is written in a style that can appeal to students and executives with non-legal background.