The spirit of the “Swabian housewife,” hailed by former German Chancellor Angela Merkel as a model of frugality, seems to be making a comeback. France is considering more than €20 billion in spending cuts for next year due to a skyrocketing deficit and pressure from opposition politicians drawing parallels to the Greek debt crisis. Italy is also feeling the heat as its pandemic-era subsidies are straining the budget, leading to concerns about the country’s rising debt levels. The International Monetary Fund has raised alarms about the situation, with former Italian Prime Minister Mario Monti expressing worries about the lack of awareness and determination to address the debt problem. Both countries are preparing for tough times ahead as they seek to stabilize their finances and avoid economic turmoil.