The crisis has created processes of fragmentation and exclusion both within and between European societies, on different levels: on a material level, as rising levels of unemployment and poverty are producing new social security “outsiders” and on an ideational level, whereby a discursive-cultural rift is forming between the new (and old) insiders and outsiders. Moreover, the crisis has also created a new level of fragmentation and exclusion. A rift is developing between the societies of the countries of the North, which are called upon to provide financial assistance to the countries of the European periphery hit by the crisis and the societies of the latter countries, which react negatively to the policy conditionality that accompanies this assistance. The objective of this project was to study these phenomena as they threaten stability and cohesion both within and between European societies.