The Greek Crisis and the New Sovereignty: A Lesson for Europe

This article analyzes the Greek debt crisis as a process of loss of political agency, transcending economic boundaries. The author introduces the concepts of substantive sovereignty and statehood, examining how financial conditionality mechanisms and technocratic management by institutions such as the IMF and the ESM have impacted the state's real agency. The text portrays Greece as a laboratory of modern forms of power, where financial necessity has displaced democratic deliberation. From the perspective of 2024, the long-term costs of regaining autonomy after the trauma of external oversight are assessed, raising questions about the limits of European integration and the future of state agency in a system of deep interdependence.