Sure but so do the creditors. If you keep giving mortgages to anyone with a drivers license that's on you buddy.
At almost no point is there enough money for citizens to withdraw their money. Modern banks don't keep their assets as cash.
Isn't this the USA system?
This went swimmingly for everyone involved, with Greece now in more debt than ever (debt went from 145.45% of GDP to 209.40% of GDP). And fascist parties going from virtually non-existent to mainstays.
Adding low-efficiency countries like those in southeastern Europe is great for the EU's major exporter - Germany, because it adds more customers who have Euros, and because it devalues the Euro, which means more exports. Better yet, because of Euro the new joiners can't devalue their currency and get their exports high enough to restart the economy, with only viable option being more in debt and/or leaving for Germany, while obliterating the local industries. Win-win-win. For the EU exporters.
So, yes, let's celebrate Bulgaria joining Hotel EU, where food is great, your bill grows exponentially, but you can't ever leave. By the end you'll just end up as a pool boy.