Do yourself a favour and buy or try to get your hand on "This time is different". It is as if this book was written for this crime we currently have to watch. If you just believe a second what the supposed-to-be-experts write. Just forget it...
Saving the delebets way does not mean cut one's expenses but highering ones income. Now this time it Italy. A higher tax for the rich, a higher tax on capital gains etc, but not mentioning cutting down the expenses FIRST. I guess that's what GDP...