Doing what oily Greeks (and others) have been fooled and paid for to do; that is pulling back (slightly) government spending in the public realm but retaining the spending in the form of transferring the money saved through cutbacks and using money given through loans over to banksters. In essence they are spending as much as before but in another way. No longer on the people, oh no, not at all; it is to save banks. The very same banks that are behind the mess in the first place.
Not really austerity, but rather it means that government and countries live within their means - a nation living within its means, i.e. spending less (or equal to) than what it confiscates in tax revenue. A weird concept today. Archaic even. This is what Sweden and Germany somewhat tries to do, and they get bullied for it although showing it works better then the alternative. But if you really want to see what happens when a country is sliding into depression and applies this simple formula, look at Estonia of today. Already out on the other side, already growing.
They did what elitists refuse to do, and it worked.
How many times in history has fake austerity or spending your way out worked?
Not a single time.
How is that for a history lesson?
Now, go out and vote for and cheer on those deemed better as you always do. Just remember, if you read this post (and others) you know reality now and you know what works and what don´t.