Greece this week became the 12th member of the euro zone in a move which marked the country’s transformation from EU renegade to star pupil

Date: 04/01/01

The country was left out of the single currency first wave for failing to meet any of the convergence criteria and analysts thought at the time the EU's poorest member faced a Herculean task to qualify for entry. But in less than two years, Greece sprinted to meet targets of lower inflation and budget deficits.