Whether Germany’s insistence on austerity and restructuring is correct in principle or not — and there’s ample room for debate on that point — the worst thing to do would be to abandon it in the face of a populist revolt by Syriza or other extremists of the left and right. That would send the wrong signal to those who would create similar mischief across Southern Europe.
Some people might be wrong, and other people might be right, but the worst thing to do would be to give in to the people who might be right, because they are the wrong sort of people. Better to prolong the suffering of millions to keep the hippies away from the cocktail party.
There as here.