Because Greece invented and held the first Olympic Games over a couple of centuries;the modern Olympics started in the 1800s and Greece has been given the honour of leading the nations march. Because the first Olympic Games held in 776 BC were held in Greece. These games are commonly called the 'ancient Olympics'. Because of that Greece is honored by being the first country to enter the stadium during opening and closing ceremonies.
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During the Opening Ceremonies of the olympics; the athletes from Greece enter first, in honor of the original Olympics held in Greece. Then the other athletes follow by nation in alphabetical order (except for the Beijing 2008 Games where it was based on the number of characters in the country's name). The host country's athletes always come last. After the games are announced as "officially open", this is followed by the raising of the Olympic Flag. The torch ceremony then begins. The running of the torch usually begins weeks before the Olympic ceremony, transporting the Olympic torch to each
country that lies between Greece and the host country. The most exciting moment of the Olympic Opening Ceremony is when the torch enters the stadium and is lights the Olympic Flame. The Flame is always kept burning until the end of the Olympic Games.
For more history of the Olympic Games :
http://en.wikipedia.org/wiki/Olympic_Games
Since the Olympics originated there. In Olympia ,Greece the first Olympics was held. Thus it is a way of showing respect to Greek people.