Yes joining Eurozone helped them to pay rising government debts.
Eurozone membership helped the Greek government to borrow cheaply and to finance its operations in the absence of sufficient tax revenues.
What happened in the Eurozone debt crisis?
The debt crisis started in 2008 with the collapse of Iceland's banking system, it then spread primarily to Portugal, Italy, Ireland, Greece, and Spain in 2009, leading to the popularization of a somewhat offensive moniker (PIIGS). It has been to a loss of confidence in European businesses and economies.
How was the Greek debt crisis resolved?
On 27 October 2011, Eurozone leaders and the IMF settled an agreement together with banks whereby they accepted a 50%part of of Greek debt. Greece went down towards its primary deficit from €25 bn (11% of GDP) in 2009 to €5bn (2.4% of GDP) in 2011.
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