This field note is a first attempt to reflect on the choreography of the European crisis from a psychosocial perspective. It focuses on the situation as it has been unfolding in one of the debtor countries of the South, namely Greece. After mapping a variety of metaphors, repertoires and strategies used to energise blame and guilt and thus legitimise the neoliberal policies implemented, it elaborates on the multiple functions of debt, articulating a biopolitical approach with Freudian and Lacanian theorisations of the superego. It also inscribes within this framework the current mutations in political domination.