This diploma thesis considers a model of flexicurity, which currently represents a key strategy of European employment policy. "The Danish miracle", as it is sometimes called, combines two at first sight contradictory trends - the high flexibility of the labor market and adequate security for workers. However, application of the model to the European labor markets seems to be problematic for several reasons. Several potential barriers to the effective implementation of flexicurity are being discussed in the paper. The most serious seems to be the insufficient and ambiguous definition of the model. This means that different actors understand the nature of the model differently and accept it with different expectations. Flexicurity also ignores the heterogeneity of each labor market. The argument that flexicurity represents a win-win situation for all citizens seems untrustworthy and unrealistic. The paper further argues that the model is connected with the place of origin because of the importance of informal institutions such as advanced social dialogue and public-spiritedness. Finally, it is necessary to take into consideration the enormous financial demands of the model due to the emphasis on a generous social system.