The problem is not this country, or that country, it's a faulty conception of economics that says austerity and other contractionary measures will lead to growth.
this 'conception of economics' didn't emerge in a vacuum. it dates back to the 70s, when the precedent was set in these situations to privilege creditors over citizens in cases of excessive sovereign debt. and it continues to today. the austerity policies are backed by finance capital (and their shill media) with the intent of keeping inflation near zero at all costs, as to not deflate the value of their interest payments.