While it makes all the sense to solve the public spending problem (that arises from inefficient expenditures), I think you are forgeting about the other side of the problem - and you can't repair the budgetary problem without solving this. So, Europe, what are you planning to do to revamp growth? I recall you that growth (efficient growth, ok?) will generate jobs, well being, more taxes and will diluite your existing debt. The main problem in Europe is lack of growth - an economic problem. The budgetary one is just a consequence. So, please, don't forget to (whilst addressing inefficient spending) focus on how to generate good and sustainable growth, will you?
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