While the last four years under the Obama Administration have been characterized by big government initiatives and pet projects (more or less), Europeans are solving their financial woes through fiscally conservative reforms. In Bulgaria, the President Rosen Plevneliev discusses why the flat tax works for them, and in Greece, Petros Christodoulou, the deputy CEO of the National Bank of Greece discusses their transition to privatization.

After experiencing the brink of collapse of their economy, Europeans seem to be buying in on fiscal conservatism. Why aren't our leaders in Washington?