Austerity is not a "problem", it's simply the only remaining option when you run out of other people's money.
replyCountries can inflate their debt away at the cost of eroding savings and new borrowing becoming more expensive, no?
replyhttps://www.statbureau.org/en/greece/inflation-charts-yearly
Countries can't push that approach very far before new borrowing doesn't just become more expensive, it becomes effectively impossible.
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