In a previous essay published in 2006, we looked at Europe’s place in the world and concluded that we needed to create, step by step, a veritable European system of development cooperation. Nearly three years later, the new issues surrounding development assistance, such as the growing place occupied by new players – namely emerging countries – and Europe’s recent progress towards more effective forms of cooperation, have prompted us to revisit the question. This essay is intended to provide a fresh overview of the goals and particularities of European development cooperation, looking at progress made in recent years, as well as the outlook for the future, against the backdrop of the crisis currently affecting globalisation.2009 is proving to be a critical year for Europe’s development policies: in the wake of the recent European elections, ahead of the appointment of a new Commission, and with the implementation of the Lisbon Treaty also pending, the time is right to give thought to this issue in order to foster the debate and to define a mandate for the Commission in terms of development.