All austerity measures do is deepen an economic crisis. When a country is at or near recession, cutting spending just limits the amount of fresh money being pumped into the economy. Less jobs are created, and as a result, less people are spending money. This is true for Japan, America, or Europe.
I do believe that Europe does well to abandon the austerity because it seems like people in Europe have freedom to do as they please for the most part. In Europe you don't hear of many people having issues or government disagreements with the institutions in that area of the world.
Yes, I think that in Europe there is a lot of programs in place that are made to make sure that austerity is gone and will not ever come back, or at least not for a very long time. I think that Europe is slowly getting rid of a lot of problems.
Europe is in dire economic trouble with their debt ballooning out of control and they are not wise to abandon austerity. They need to do a better job of cutting expenses and reigning in their out of control government spending. They have to many welfare programs that are draining the tax payers of their money.
There are a few European countries that are very successful at avoiding austerity. Germany has been the cornerstone of financial responsibility that has basically kept the euro functioning. Other countries like Greece seem to act with reckless abandon when it comes to their budget decisions. The leadership is often blamed for the policy, but the people are often the ones that enabled the policy.