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Europe’s economic crisis has been transformed into a crisis of democratic governance that could roll back five decades of integration. The European Union may disintegrate because its “commanders” are unable to converge three distinct economic, political and institutional theatres in which the crisis is being played out. The EU lacks sound democratic means to legitimate the policies necessary for trans-border financial transfers and budgetary discipline. The key European actor, Germany, has adopted policies that fail to ease pressure from the markets and have stimulated political opposition against the German “dictate.” As a result Germany is less committed to saving the European project.