But when you can’t get access to international capital, can’t effectively tax, and are unable to cut spending, you’re left with an inability to address that issue.
> can’t effectively tax, and are unable to cut spending
By cutting out the leechers, enforcing taxation properly, and some austerity measures short term, this can be rescued. there would be pain of course - esp. if leechers are large in number and powerful.
The political leadership who does this will not be thanked, and is basically political suicide as the people would not enjoy these measures. This is why nobody does it - thankless job at best, and derided or punished at worst!
