When doing this, one should bear in mind the immensely challenging situation which European institutions and national governments had to cope with. Of course, it is always possible to say that with the benefit of hindsight things could have been done better or differently, and this contributes to the learning process.
But advice is provided in a given context, based on given information and under given constraints. Let us also not forget that the adjustment would have had to take place in any case, with or without the troika. The economic and social costs would have certainly been much higher without the emergency assistance. Finally, let us acknowledge what the EU/IMF programmes have achieved.