Greece bailout?

It is being reported that Europe is going to help Greece on its debt. The market is very excited. I think the bailout is more difficult than the market thinks. People are still angry about the bailout for financial institutions. Now Germany and France are being asked to bailout another country, how furious people will be. If Germany bailouts Greece, then what about Portugal and Spain? Regardless of the bailout, Greece will be asked to cut spending dramatically and large scale of strikes can be expected.