In the recent past, many States resorted to public spending increases in order to boost their shaky economies. At present, they have to face great deficits. They believed, no doubt, that there is no need to obey to financial constraints, but the market reminded them that any debt has to be reimbursed some day. Indebted and weakened governments are now forced to cut on spending and increase taxes. Hence an urgent need for a scapegoat. Fortunately enough, there are still some places to turn to for a credible alternative. Analysis from Jean-Philippe Delsol.