The issue is further confused by the practice of many of churches. But Biblically speaking, deacons are NOT vice-elders. Deacons have a completely different role to play in the church and the office requires different gifts and different abilities than the office of elder. None of these functions involves teaching males or having authority over males. Women can be deacons and can be ordained.
Most translations have a footnote explaining the alternate translation.
If Paul meant deacons' wives, he surely would have said something about elders' wives. There is nothing inherent in the activities or position of deacons that precludes women. It violates no other command in Scripture for women to handle money or to serve others in the church. Thanks for the stimulating discussion.