It is shortsighted: it is a temporary to prevent the sky from falling in a few days. But it's just kicking the can a bit further down the road: economically it makes no sense. You'll destroy trust and discourage people so much that you're giving a blow to the private sector so big that in a matter of years the state shall have less income than if they didn't do this.

The problem is that the state is broke. It's that or they're out of the eurozone.