Warning: the contents of this article is, by the chance, referring to the Italian situation. Anyway let me tell you that Germany, the so-called european driving force, is not officially suffering a public debt crisis (up to now) even if public services as well as infrastructures are not better than in Italy. Low wages and over-exploitation are the current issues all over the continent, like in Germany, and are basically the foundation of the temporary success of those countries.
Post: this is a complicated issue for me, as an Italian as well as being an entrepreuner. Even if a small one. What does it mean? It means my personal engagement is due in everything I do concerning my activity. The only difference between me and a simple worker is that I put into my firm not just my work and competence but even my money and responsability.
The first problem people like me have in Italy is to face a bureaucracy which is public relations system that gets you slower and has a delaying feedback on your activity. The second problem is: the financial system is not willing you to succeed in your business and does not invest in you at all. Financing in Italy is not at the age and is, usually, underdeveloped (as well as undercapitalized).
The third problem concerns the taxation system which is very unfair and reaches, in some cases, the income tax top level of 65-70% of your total income.
The fourth problem is concerning the country system which is not well integrated in its all parts. Infrastructures as roads, highways, railways, are not at the age and, sometimes, badly maintained.
Last but not least crime troubles, in more than half of the country, even in the northernside of Italy. For all these reasons, investing in Italy is not a good idea and, certainly, a mistake.
Making business and being a business-friendly country relates to one or all these three points:
1-boosting investments; 2-boosting public debt; 3-boosting consumption.
In Italy no one of these points is satisfied, so no true hope for your money. Capitalism cannot really work here.