True, but they would have to live within their means while paying off a big debt overhang. It would hurt, and for a long time. Are they that noble? Doubt it. Not sure any country’s populace is that noble about debt they feel was undertaken by others, even if those others were their duly elected leaders.
Its not about being noble, never was, its about a horrifically fundamentally flawed idea coming home to roost, and that’s the euro itself.