The Treaty enforcing budget rules in the Economic and Monetary Union to be ratified before the end of 2012, after the "Six packs" directives adopted by the EU plans one of the hardest austerity policy never known in the European History. At the Asian Financial Forum last January, Nobel laureate and economist Joseph Stiglitz had stated this austerity European plan could be compared to the medieval medical practice of blood letting, leading to the death of the euro as well as our economies. To start with Greece, austerity measures - or a deep slash in debt - will not spark economic growth.