Democracy overwritten by economics Crisis management under the aspects of democracy András Varga junior fellow ISES Institute for Social and European Studies Kőszeg, Hungary PhD student ELTEÁJK PTI University of Eötvös Loránd Faculty of Law and Political Sciences Institute of Political Sciences Budapest, Hungary The publication was supported by the National Excellence Program  Elaborating and Operating an Inland Student and Researcher Personal Support System convergence program. Abstract 1. Introduction 2. The democracy test 2.1. Basic concepts 2.2. The classical definition of the democratic deficit – the legitimacy chain and the responsiveness 2.3. Policy change – shift in the decisionmaking and problemsolving capacities 2.4. Redistribution and input legitimacy 2.5. Democracy test – summary 3. The democratic analysis of the crisis management 3.1. Institutional ultra vires – ECB 3.2. Conditional credits – EU, IMF 3.3. statesave funds – European Stability Mechanism 3.4. Fiscal Compact – Stability and Growth Pact 2.0