My PhD focuses on the evolution of the European Neighbourhood Policy (ENP) from 2004 until the ousting of president Morsi in 2013. The aim of this research is twofold. The first concern is to unravel and explain the decision-making game of the ENP. The second aim is to assess the performance of the ENP and more specifically the impact of the economic aspects of the policy in Morocco, Tunisia and Egypt. From a theoretical perspective, the aim is to identify the nature of relations between the various actors that participate in the initiative. This task has a dual character. The first is to assess the explanatory power of integration theories regarding the ENP. The second theoretical objective is to show the usefulness and the limits of Putnam’s two-level game approach, which has emerged as a solution to the evolution of international agreements. Putnam’s framework has already been introduced in the analysis of Euro-Mediterranean relations, but as this research argues in rather schematic terms. A three-level analysis is at the heart of this research and the idea is to appreciate the lessons that we can learn from this approach and to highlight the shortcomings of Putnam’s explanation. The theoretical discussion provides the basis for the empirical questions that this research attempts to answer. The research sheds some light on the economic sphere of the ENP and evaluates the performance of the policy. It forms the first comprehensive attempt to examine the evolution of the economic part of the Euro- Mediterranean relations, not only until the beginning of the Arab Spring, but also the development of the ENP after the changes of the regimes in Tunisia and Egypt until the ousting of president Morsi in June 2013. More specifically, it attempts to distinguish the winners and the losers of the ENP reforms and the impact of the Action Plans on the partner countries. The study explains the commercial and political gains for the participants and argues that the ideas of policy makers for the political economy of the Euro-Mediterranean relations and the development of the North African countries have not changed substantially after the Arab Spring. Under these conditions, the chances for the ENP to become a successful foreign policy strategy are slim.