In 1999 Greece was denied membership of the €-zone. Their economy was way of the scale. I mean, taxes? Not a word in Greek, apparently :-)
They were accepted in 2001 though. Something fishy happened. Com on, did the politicians and civil servants in the EU beuracracy truly believe that Greece had fixed their economy in 2 years?
They should have taken steps to help Greek with its financial situation in 1999 instead of doing them an il-concieved favour in 2001.
I think they accepted Greece to put some pressure on countries that did not support the €.
Our world leaders have had knowledge of just how bad the situation was and did nothing. Nothing, indeed :-(