Those who believe that Greece will pay its debts are dreaming. Read this.
That's what the Greek government bond yield is telling you. At 17% vs 3% on German bonds, either Greece will pay its bonds in deflated drachmas after it's left the euro zone, or it will repay them in long-dated euro "restuctured" low-interest bonds after lenders have taken a "haircut", or it won't repay them at all. The odds (for now) are still on the second option. The Greek parliament is meeting as I write this.
Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.
The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.