The country’s 10-year bond yield spread rose to unprecedented highs relative to the German counterpart reaching more than 750 basis points during the first few months of the crisis. Later on, as the...

The country’s 10-year bond yield spread rose to unprecedented highs relative to the German counterpart reaching more than 750 basis points during the first few months of the crisis. Later on, as the country made very good progress on its commitments, the spreads sharply declined and as of February 2020 they were less than 100 basis points.