Italian Austerity and the Euro

Daily Mail: Reports that the nearly sixty billion Euro cuts and tax hikes in the Italian Austerity package is expected up to a point to save the Euro. This blog has its doubts, are stated many times in this blog the welfare state in the EU is a major structural flaw in its structure, the austerity packages in Greece and Italy does not deal with that, it deals with the consequences, thus there will be more debt, more reduction in the economic structure of Italy and thus the EU will be back to this crisis down the line. Lets hope this blog is wrong, but have my serious doubts, we shall see if China will give money to bailout Euro, that could be the deciding factor folks.