The economic exigencies of the Eurozone crisis have resulted in a de facto expansion of the European Union’s powers over the fiscal policies of the member-states. This authority has been exercised by largely technocratic means, especially in the peripheral states that have been hit hardest by the downturn. Since these new competencies directly impinge on the welfare and social policies of the affected member-states, they are of great interest to the citizens of Europe and have been accompanied by new calls for the democratization of the EU. The panel will examine the current state of democracy in Europe by examining the existing democratic deficit and exploring how the increasing calls for democratic legitimation can be met.