This is something we must follow: the possible demise of austerity in Europe. Of course, if austerity is a consequence (as opposed to a punishment), then reducing or eliminating it will create more issues later. This is a story from El Pais, in which they note hopefully that Spain will shortly be released from the woes of German-mandated austerity, which is to be replaced by "reforms." That massive reform is needed is not in doubt, but if austerity is politically difficult, then reform is even more so. The status quo can remain neither status nor quo (making a bad grammatical point). Things will change for the worse as a consequence of doing nothing.