That, too, is part and parcel of being a role model. Nor is consolidation a growth brake, but rather a precondition for sustainable growth. More debt is no precondition for successful structural reform. Binding debt rules are a necessary, but by no means sufficient, condition for strengthening the principle of individual responsibility in a monetary union.
To this end, the no bail-out principle would have to be more credible, amongst other things. Ultimately, that would mean allowing governments to become insolvent. That, in turn, requires robust banks: going forward, neither a sovereign default nor the insolvency of a major bank must threaten the stability of the financial system.