How is it that mother's solution is ignored:

There is this problem:

http://news.xinhuanet.com/english/world/2012-01/30/c_122626774.htm

However, for all their discussing and discussing and more discussing they never seem to allude to mother's solution.
I remember her telling me:

work hard

do without and suffer

save

and pay off your debt

& from then on be frugal.

Everyone knows that the countries in the EU got into their mess because of their rampant self-serving profligacy and a touch of self-interested corruption.