After the first Bundestag elections in 1949, the Free Democratic Party (FDP) established itself as kingmaker either of the Christian Democrats or the Social Democrats. The entrance of the Green Party into the German Bundestag in 1983 brought about a significant change in the German political landscape, which challenged the German Liberals to redefine themselves. At present, it seems that the FDP is on its way back into the federal government after ten years of opposition, although "neoliberal" ideology is currently facing a severe international crisis. This constitutes a puzzling issue for political scientists, which is addressed in this article by analyzing the factors that can explain the German Liberal's latest success. Furthermore, the FDP's chances in comparison to the other two small parties (Left Party and Greens) are discussed. Finally, attention is focused on the characteristics of the FDP's election campaign and its coalition options for 2009 and beyond.