In sum, the REBLL alliance does not prove the case for expansionary austerity any more than interwar Japan proves the case for sensible Keynesianism. The political and economic structures of these states are neither transportable nor stable. Their policies prove nothing about expectations or the sustainability of consolidations. Their recoveries and economies are inherently fragile and are based upon sources of demand that cannot be replicated elsewhere. They are in more debt than when they started.

Mark Blyth, Austerity, loc. 612