You're being far too generous. It's not just that the public administration was bad before the Euro - it got worse after 2001 when politicians used borrowed money to buy votes. Pay for Greek civil servants has doubled since 2001 in real terms.
The really sad part of all this is it represents a horribly squandered opportunity. If expenditures had been kept steady and the government just rolled over existing debt in 2001 into bonds with the new far lower interest rates it would have been a win for everyone.
The really sad part of all this is it represents a horribly squandered opportunity. If expenditures had been kept steady and the government just rolled over existing debt in 2001 into bonds with the new far lower interest rates it would have been a win for everyone.