Austerity != hoarding cash. Greece, Spain and Portugal haven't shown us that austerity damaged the economy. _Their economies were already bleeding_ but they we

Austerity != hoarding cash. Greece, Spain and Portugal haven't shown us that austerity damaged the economy. _Their economies were already bleeding_ but they were throwing enough money & debt at the problem to cover it up. Austerity is the fix that they needed to do eventually, and it's better that they did it now rather than later.