It just needs to happen once to make the problem much smaller for a much longer time the next time round - i.e. vendor finance because harder to find, and German exports become less attractive.

But basically we still get to the point that growth in some parts of the eurozone was based on unsustainable debt-funded consumption.

We know how to do debt-funded investment (EINB without the need for national co-financing, or not as much), and we know how to make debt funding of consumption painful for the lenders.

Wind power