Just a little observation: European "welfare" states have functioned in the past because notwithstanding legislative craziness, people would feel free to disregard laws as they were not enforced.
Italy is rumored to have tax rates that exceed 100% of incomes (all added together), but hardly anyone would pay any.
Now that debts have risen and in many countries exceed yearly GDP, Italy (for example) suddenly insists on enforcement of tax laws. At the very same time, it has become almost impossible to hide funds in Swiss bank accounts.
As a result, economic activity will be further hampered and Greece will have been just the first state to seek bankruptcy protection!
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