While complementing the EMU with the necessary rules mandating budget discipline at domestic level, the fiscal compact inevitably affects the autonomy both of national parliaments and executive powers, as well as the life of millions of European citizens. A culture of financial stability protects democracy from inter-generational conflicts and it is positive per se. Arguably, however, some provisions of the fiscal compact risk widening the democratic deficiency of the economic governance. Thus, the following legal analysis is carried out with the main aim of assessing the coherence of the fiscal compact with the principle of democracy. As tentatively showed, an issue of democratic legitimacy is indeed raised. The policy-making of the euro zone needs to be improved so as to rely less on national legitimacy inputs and more on its own direct source of democratic accountability – the European Parliament. [...]