In Greece, perhaps more than in any other country, the political repercussions of the economic crisis have been momentous. The collapse of the two-party system in the elections of 2012, as a result of three years of tough measures under the terms of the bailout Memorandum, brought to the surface a very deep crisis of representation, leading to sweeping new political alignments. One year later, the developments and transformations taking place within the country’s old and new political parties are continuing at an undiminished pace. In recent times, the formation of some new ‘party’ has been announced on an almost monthly basis, whilst the likelihood of a reappearance in the next elections of the ‘pulverization’ seen in the May elections is returning. However, the real fact that has been obscured is the discrediting and dramatic contraction of the institutional role of the political parties, in the framework of the new political system that is emerging, namely a grossly enfeebled, almost virtual parliamentarianism.