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N. Kotzias expresses a new interpretation of the political-cultural consequences of the Greek and European Crisis. By studying and analyzing the empires existed during the last 500 years, he arrives to the conclusion that the EU mutates into an empire supported by: a) the financial markets, b) the Brussels bureaucracy, c) Germany. The writer supports that the tendency of unequal gradation between member states, dominates more and more within the EU. A chain, with Germany being at its top, since it possesses the primacy within the EU, and the European South at its bottom, is being formed. The powerful EU countries, Germany in particular, are characterized by "economic cultural nationalism", or even "racism". The EU tendency to turn into an empire is directly connected with the mutation of Germany into an "imperial state", a New Rome, which is the real center of Europe. This change is also connected with the transformation of Greece in a colony of debt. The writer presents, through the experiences and the theoretical discussions of the past, a sequence of comparisons, explaining what is a "colony of debt" and how it is defined. The writer analyzes the current supervision system set up in Greece. How, with which mechanisms, institutions and programs it functions. The devastating objectives of the Troika and the Germans. The enormous responsibilities held by the Greek oligarchy and intertwining. The repercussions of the transformation of Greece, as well as Cyprus, in a colony of debt on its society and economy. He analyzes the democratic problem and the problem of sovereignty resulting for "Greece colony of debt". He also formulates proposals.