The error was the IMF attempting to keep Greece in the Eurozone rather than having them go bankrupt.
If you think a bankrupt Greece would not have to make disastrous cuts than you are naive.
The flaw with your article is assuming a bankrupt country will still have someone who will loan them money to keep operational. Who would that be?
Without the IMF bailout, Greece would be Detroit.
Detroit should have gone on an austerity program 30 years ago.