This presentation focuses on the role of national parliaments under the ESM. It is uncontested under the EU Treaties that the powers of national parliaments in EU affairs can vary according to their respective domestic constitutional frameworks. Under the ESM, however, the existing power imbalance between national parliaments was exacerbated not lastly by transferring the source of this imbalance from the national onto the EU level by differentiating between member states according to their size and economic strength. This presentation analyses the asymmetric impact that the ESM has had on national parliamentary powers in the EU and its consequences for EU democracy, in particular at the time of the Euro crisis. It will further look in the question of whether and, if so, how such asymmetries can be lessened in the future by the ESM’s reform.