The establishment of bailout fund in the eurozone may rise political, legal and economic controversies. The present paper elucidates some philosophical issues which are at the bottom of the problem, such as the allocation of the blame for the crisis in the EU (vices-based approach and actions-based approach to the heavily indebted countries); and the rejection of the blame (the use of to the natural disaster metaphor). The debt crisis followed by the bailout debate provide some insights about fundamental problems of the EU which concern the controversies about the Europe’s self-definition. The paper analyses the ideals of justice on which the new European regime could be grounded, such as: justice as mutual advantage, the entitlements theory of justice, justice as fairness, and justice as solidarity. Each of them invokes a different ideal of community and a different vision of the European integration which are discussed in the paper.