Five years into the crisis, its economic, political and social consequences are still affecting deeply European countries and particularly the Southern periphery ones, which are still struggling under the weight of record unemployment levels, deficits, and increasing debt. The longer-term consequences of the crisis on political, social and economic outcomes still remains to be seen. This panel seeks to explore where the Southern European countries stand five years into the crisis. Will the traditional party system hold? Will emerging populist movements, like Podemos in Spain, build upon their results in the European Parliament elections and challenge traditional parties? Furthermore, the continuation of austerity policies will continue having significant social and economic consequences as well. What will be the implications of the continuation of such policies? Can we expect policy shifts?