Greece Saved?

As reported by Zero Hedge, Greece is not as "saved" from it's debt crisis as everyone thinks. I don't see how this will save the Eurozone, as the same problems with Italy and Spain are not far down the road.

One piece of the article was particularly interesting to me:

Once growth did recover, fiscal policy achieved its target, and privatization picked up, the debt would begin to slowly decline.

I'm hoping this doesn't mean privatization of basic services such as utilities, which will undoubtedly lead to unfair pricing as they did after the privatization of the water supply in Bolivia in the 1990's, which effectively increased poverty and caused popular uprisings and was finally socialized again. This privatization was a requirement imposed on Bolivia by the World Bank in order to secure further state loans that were needed to "save" it's economy. Sounds familiar, doesn't it Greece???