Its a fair summary of 'where we are' (or as much as it can be given the article is a year old) but not of 'how we got here'. The reason the Troika has been relatively harsh is because successive Greek governments have lied and failed to deliver on previous agreements - and the longer it dragged on without meaningful intervention the worse the situation got. Greece should never have been allowed into the eurozone, they should never have borrowed the money on false pretences and the Greek people should never have elected whoever promised them the most jam today. There is plenty of blame to ago around.