The events of December 2008 in Greece represent a turning point in social movements against neoliberalism and capitalist restructuring. They were the result of worsening employment prospects for young people, the aggressive restructuring of the educational system and concern about the effects of the current economic crisis. The originality of the movement lies in its unique scale, in the expression of a new unity of youth in struggle, in the demand for radical change and in its anti‐systemic character. It can be viewed as further evidence of the crisis of neoliberal hegemony and as a sign of growing hegemonic instability in European capitalist social formations. For this reason it poses both a theoretical and a political challenge.