My feeling is that Greece had a couple of choices: it could take pain now and get it over with or it could kick the can down the road and take more pain later. It is in the process of choosing the 2nd option. My opinion is that the largest Keynsian experiment in the history of the world is going to end in a catastrophe for more than Greece. I feel that way based on reading:
This Time is Different, by Reinhart and Rogoff
Basic Economics, by Sowell
The Return of Depression Economics, by Krugman
The Big Short, by Lewis
Endgame, by Mauldin and Tepper
Code Red, by Mauldin and Tepper
The Death of Money, by Rickards
The world is going through an enormous experiment between (1) people who believe that a way out of debt includes creating more debt and diverting capital from private enterprise toward government projects and bureaucracy and (2) people who believe the exact opposite.
I'm in group 2.