Despite these austerity binges, Greek debt is projected (if all things remain equal for the next eight years, which will never happen) to reach 120 percent of GDP by 2020. The IMF thinks 145 percent by 2020 is more likely. Just to keep things on track, democratically elected governments in Greece and Italy were deposed and replaced by unelected technocrats who promised to keep the reforms going.

Mark Blyth, Austerity, loc. 201