4. No, it has never worked anywhere, well not for the people. It works fine for corrupt
Bankers as it forces the people to pay their gambling debts and helps to keep their big bonuses coming.
It also achieves a long held goal of the Ruling Class, to destroy Social Programs because they cannot stand to see the people getting anything with money they believe would be better used by investing it on Wall Street.
People are starting to die now in Europe as a result of these draconian and criminal policies. Elderly people in Britain whose benefits have been cut, are unable to make it eg. In Greece some people are committing suicide and there are huge fears that many vulnerable people will die from lack of necessities during the coming months.
Austerity = Crime by the wealthy perpetrated against the working class.