You pan Keynesian economics as misguided, and while I'd agree that ramping up public spending is not the solution everytime, clearly austerity is not leading to

You pan Keynesian economics as misguided, and while I'd agree that ramping up public spending is not the solution everytime, clearly austerity is not leading to the "investor confidence" that would spur growth in the periphery. The truth is, no approach is going to work in every situation, but it's almost foolish to say austerity was the best approach to the Eurocrisis. Of course there are complications when you're dealing with a common currency, but the budget constraints and subsequent skyrocketing of debt hasn't alleviated the situation. If anything its burdened the finances of the periphery with an unbelievable amount of default risk, which if I understand austerity economics correctly, that is exactly what it's meant to avoid via boosting investor confidence. Odd how even though results were different, people still believe it's a good solution to the Eurozone's woes.