The ‘euro’ bailouts have moved the EU into unprecedented territory: an intervention into the domestic governance of member-states that involves conditionality and very close monitoring of government performance. No case has proved more problematic than that of Greece, with its now three ‘rescues’. The challenge is both instrumental and normative. This chapter assesses the effectiveness of the Troika’s intervention in Greece as a case of the EU’s crisis management capacity. It relates this to the domestic political and institutional response, highlighting the difficulties of the two-level interaction in the context of low ‘quality governance’. The normative implications of such intervention are immense in terms of accountability, democratic choice, and legitimacy. Greece is thus a ‘critical case’ that underscores the crisis challenges for the European project.