The aim of this article is to investigate the determinants of the foreign direct investment (FDI) in some European countries from 2003 to 2010. This period is interesting because it was characterized by huge investments of capital before 2008 and after this date a cooling of the economy due the subprime mortgage implosion. Panel Data of 23 European countries were analyzed among the several FDI macroeconomic triggers proposed by the UNCTAD in the United Nations Conference For Trade and Development report of 2012. Our empirical results are consistent with the objectives of the UNCTAD model. The FDI has become in a very important goal for all the countries because it has positive spillovers that act as boosters for the growing of their economies. Within the positive effects we highlight the transferring of technology to domestic firms, the creation of new and better jobs, the increasing in the number of tax payers and, besides, these investments are a clean source of income with the benefit of not assuming the risk linked to the debt. Consequently, the governments have the need and the duty to promote policies for attracting FDI. If we analyze the case of Europe, one can differentiate three groups of development and several kind of challenges, i.e., the high unemployment rates that some Mediterranean countries are facing, the adverse selection problem that hinders the credit flow across the productive value chain and the migration of the manufacturing to developing countries. Hence nowadays the understanding of the factors determining the FDI is a key issue to link the policy making with the potential investors.