ABSTRACT
This chapter argues that the crisis of the euro and the need to avoid its collapse, as well as the default of some member countries, reinforced German hegemony in the European Union. As if the human costs of austerity measures were not enough, another price has been paid in terms of democracy. Italy and Greece underwent similar 'suspensions' of their democracy, with the only beneficial result avoidance of utter financial disaster. A slight change in the mix of economic policies occurred in Germany with the formation of a Grosse Koalition [large coalition] after the elections of September 2013. With the Social-Democratic Party (SPD) joining the Christian Democratic Party of Angela Merkel, the political agenda has indeed shifted to the left, as one shall see, but only insofar as these changes are reserved to Germany itself, not its weaker partners in the Eurozone. The chapter presents the specifics of the Greek and Italian cases.
