The Holocaust plays a major role in the politics and national identity of Israel and Germany. Although many studies focus on Holocaust memorization, there are a few studies that examine the extent to which this discourse has become a political instrument today. In this chapter, we examine and compare public speeches made by the Israeli Prime Minister Benjamin Netanyahu and the German Chancellor Angela Merkel mentioning the Holocaust over the last decade (2009–2020). We employ semantic network analysis to identify the main themes raised. Our findings show that Benjamin Netanyahu’s speeches solely focus on underlining his personal achievements in addressing current political threats, and the Iranian nuclear program in particular. References to historical events related to the Holocaust are anecdotal and not part of the main narrative. The main narrative rather focuses on the importance of Israel as a Jewish state with a strong army. In Germany, Angela Merkel does not focus on her personal role as much, but rather emphasizes the positive changes Germany has undergone since the Holocaust, and its present and future responsibility to Israel, the Jews, and to the entire world in promoting values of freedom, tolerance, and democracy. Merkel’s narrative clearly reflects the political agenda of her party. Our findings contribute to the growing literature on the politics of memory and the way the political elite instrumentalizes collective narratives and memories to promote political goals and shape national identity.