More "Austerity" Blather from CNBC

CNBC continues its awful coverage of the European sovereign crisis.  In an article on Greece running out of money, there is this small, wildly nutty tidbit:

Prolonged austerity is making it harder, not easier, for governments like Greece to become self-reliant again.

This is unadulterated poppycock.  Austerity is a million miles from Greece.  It is an utterly discredited model and bankrupt system that has made Greece unable to become self-reliant.  Greece's continuing relative profligacy is just hastening the implosion of the country.  Greece is a voracious, all-devouring sinkhole, no amount of continued assistance will stabilize it or set it on any type of reasonably stable course.   Austerity, which has yet to be seen, is coming...not by virtue of any political choice, but by physics - cold, hard, reality.