The European Union’s sovereign debt and banking crisis has made apparent a gnawing gap between the northern and southern parts of Europe. Over the course of this past half decade, this divide has been brought into the public debate through a myriad of perspectives, from social trust to competitiveness. Yet, the governance sources of the divide are underestimated in policy practices and misrepresented in the political discourse. A governance approach can help clarify why the pursuit of convergence underpinning EU crisis-resolution mechanisms has become a contributing factor, rather than a prospective solution to the North-South gap. In doing so, governance also forms the basis for recommendations to policymakers in both halves of the continent, especially when confronted with the challenge of populist Euroscepticism.