For many decades studies on European integration have been dominated by the intergovernmental/supranational dichotomy, while federal theory has been side-lined in debates. Yet federalism is one of the ‘old’ theories of integration and had a profound impact on the thinking of the ‘founding fathers’ of Europe. It is thus high time to resurrect federalism and reinterpret it for what it really is: a useful lens through which to look at the organisation of the EU, disregarding any ambition to create a ‘United States of Europe’. The EU is a federal system in the very essence of the word: an organising entity that tries to accommodate distinct interests and identities. This paper therefore argues that, although the EU is no typical federation, federalism is a highly useful theory for studying how it is organised and its decisions are made. Indeed, it is perfectly possible to have federalism without federation.