Throughout the world, the privatization of water has failed and many cities, particularly in France and Germany, have preferred to re-appropriate its management. Yet, in a Southern Europe in crisis, public operators are threatened with its withdrawal. Why are Brussels' elites pushing these countries to privatize their water distribution and recycling services? Between austerity policies and lobbying of the EU, water circuits in Europe seem to be in harmony with those of capital. Investigation at the heart of a secret war waged by large corporations.