By far the best comment on Greece:
...But pleaaaaase stop calling less state spending of other people’s money “austerity”. Taxing you less and borrowing less money that you and your children are underwriting is not “austere”.
Every time you get the urge to write “austerity”, remember that is it a term the other side want you to use. Might I suggest substituting “less profligacy” or some such for an equally ideologically loaded term that they would not like you to use. (Perry de Havilland, London)
Shout it from the rooftops.
By the way, Greece does have a very expensive welfare state in case you had some doubts.