Game Economics are nothing like Real Economics. In games you can quit (in life that would be suicide) but outside of that necessities are not existent in a game. You do not have to buy the best gear or grind raids/pvp to achieve goals or to exist in the game. Those are things you impose on yourself by yourself or from pressure of others. In real life you have to have food, shelter and consumable water to survive, no matter what you or others think. You can believe you don't but in the end you will die or end up in the hands of people who know better. TVs, Computers, Cars, Laptops, Wagons, Knowledge are ultimately all societal ideals that are perceived to be necessary but are not for a human's survival.
Money, virtual or backed by necessities is nothing but a representation of bartering which in the end is nothing but value equivalent trade. No new money has to enter a market. Money can dry up, it's called deflation which something has the US Fed needs to do before the Dollar becomes useless (ie by over-inflation which would be countered by reduction or stop of printing of new additional currency and raising of interest rates so the Fed can absorb money out of the market.) As long as people are fed and sheltered, success beyond that is highly a subjective ideal.
Austerity isn't the issue, it's the fact you have different style economies, societies, and governments (private, public, gov) trying to share the identical virtual ticket to represent their economies.
It's why the initial Confederacy that became the Federal Government of the US had to exist, to regulate the entities that reside within it's bounds to escape the exact same problems the EU is facing today, different taxes, economies and peoples in different recognized states. Ultimately there will be war before the EU is able to even impose federalization of the nations of Europe under it's thumb.