The U.S. Government will attempt the same thing here, because they've looted and robbed very programs they set up.
All while the political elite give themselves pay raises and increase their lottery style government retirement pensions.
The sad fact is that neither of these actions nor a combination of the two will actually take place.
We are faced with either a mind blowing inflation or total or partial repudiation of both state and national debts which would not be legal but will happen, in any event. We can only hope that after government takes this drastic action it will return to a real asset based currency and bar further artificial creation of money via a Federal Bank.