They have restructured substantially. Enough so that they were on track for a substantial primary surplus. There's much more to do, but the primary problem for the last year has been managing the crushing debt load, not the Greek government.
Agreed, they still need debt restructuring. Also the €zone framework needs simultaneous reconstructing, to route surpluses to places not doing so well. But that would be the beginnings of a real federal EU and European countries are too nationalistic for that which is a shame because Europe is going to fade into relative obscurity economically unless we can make this transition. Though perhaps this crisis presents the opportunity to kick-start that process, but it's a long shot, I'm pessimistic even though I do not want to be.
