N. Kotzias presents a new interpretation of the political and institutional implications of the Greek and European crisis. By examining the empires of the last 500 years, he concludes that the EU is evolving into an empire based on: a) financial markets, b) the bureaucracy of Brussels, c) Germany.

The author argues that the EU is increasingly characterized by a trend of unequal grading among its member states. A hierarchy is created, with Germany at the top, holding the primacy in the EU, and the European South at the bottom.

The strong countries of the EU, particularly Germany, are now characterized by 'economic cultural nationalism', even 'racism'. The EU's tendency to develop into an empire is linked to Germany's evolution into a kind of 'imperial state', a New Rome that is the true center of European happenings.

This change is connected to the transformation of Greece into a debt colony. The author shows through past experiences and theoretical discussions, with a series of comparisons, what a 'debt colony' is and how it is defined. The author analyzes the current system of trusteeship established in Greece, how it operates, and with which mechanisms, institutions, and programs.

The destructive ambitions of the Troika and the Germans. The tremendous responsibilities of the Greek oligarchy and corruption. The impact of Greece's transformation into a debt colony on its society and economy, as well as in Cyprus. It analyzes the democratic problem and the issue of sovereignty that arises for 'Greece as a debt colony'. Proposals are made.

[Excerpt from the text on the back cover of the edition]