The to-do list of reforms that must be initiated soon by Greece

A strengthened privatisation programme and collateral provision

A plan to modernise the Greek administration by 20 July and acceptance of monitoring

The aim is to rebuild trust and compensate for a weaker economy

Full Memorandum of Understanding (MoU) and IMF participation

A programme of €82-86bn over the next 3 years

No debt haircut; a possible extension of debt grace and repayment periods, but may only be considered after the positive completion of the first review 

€35bn growth and job support package

All in all, the Euro Summit statement sets out the full list of features that the Syriza led government was elected to remove. Moreover, this is a much tougher set of conditions than those the Greek population voted "No" to last Sunday. The monitoring and the absence of any near-term prospect for debt rescheduling and it is easy to see why the mood in Athens has darkened considerably.