Either you're naive or being mischievous, even the IMF who championed austerity said austerity hasn't worked, so if the previous government was still in power you'd have more austerity and asset sales to the point of Greece owning nothing, which of course is the goal of the creditors.
Can someone explain to me in laymen terms what the problem with nationalised banks is? we've seen private banks all over the world run amok and cause the global crash in 2008 which governments around the world are still paying through the socialisation of debts and nationalising only the banks that were in trouble to stop them going under, and with the exception of Iceland these reckless speculators and bankers were rewarded for their crimes.
Problem is so are the EU, in fact the EU are worse have a look at their accounts they won't let outside auditors anywhere near their accounts and even their own internal auditors have refused to sign off their accounts for how many years now? yet they want to lecture Greece about how to run their affairs as though they know whats best.
BTW
Cyprus did pretty much what the EU wanted and their banks froze for a few WEEKS leaving people unable to trade and withdraw money which crippled some businesses, it was resolved when these private banks decided to help themselves to peoples savings, so again whats the problem with nationalised banks? private banks don't seem to have a good track record.