DEUR - Lessons From Greece

Over the past 4 years, I've been questioning the conventional wisdom that Greece's debts were unpayable. In May 2017, after a sharp decline in Greek bond yields, I did a post at Econlog entitled:

Is the Greek public debt actually "unpayable"?

At the time, yields on Greek 10-year bonds had plunged to 7.4%. Today they are down below 3.3%:

Who knows, Greek bond yields might eventually fall below the yield on US Treasury bonds.

My argument was not that Greece was not at some risk of defaulting, rather that their national debt (roughly 180% of

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