Defaults by the 19th and 20th centuries, peaking with last year's shock failure to pay back the IMF on time.

Thanks to the current crisis, it's been 18 months since Greece was last able to sell bonds on international capital markets.

But if the Prime Minister has his way, investors won't have to wait too much longer for new issuance.

After two elections, a referendum, and fretful negotiations with creditors to secure a new bailout and avoid leaving Europe,

Greece is hoping to restart sales for sovereign bonds within the next 18 months.

Then again, debt sales in Greece have never really dried up. On Tuesday, Athens sold over 1.6 billion Euros of 6 months T bills to refinance maturing debt

at a rate of 2.97%, the exact yield that it sold data since March 2015.

Buyers of this debt tend to be Greek banks, which are not really buying new debt but renewing positions.

But in the wide degree debt market, there's evidence that other source of buyers have restarted to reappear once again.

Last year was, by any measure, a problem for investors in Greece. The Athens' stock exchange was down over a 25% over the year.

Among Greek bonds may have been one of the better performance in the region. They suffered months of painful volatility.

Prices for Greek debt due to mature in 2019 drop to 16 cents in the Euro.

And bankers of Morgan Stanley started to talk about the idea that if Greece was forced to exit the Euro, the bonds could be worth as little as 4 cents in the Euro.

But prices for those same bonds are now 19 cents in the Euro, which might suggest a cheerful outlook for investors,

if it were not for the fact the yield remains far higher than any other in the region.

Aware that the economy is frail and changes demanded by creditors would be highly unpopular.

Bond investors are hoping that the ECB would one day include Greek debt in its QE program, but this is by no means a done deal.

Because of the bond's junk rating, the ECB needs to institute a waiver, which has shown little enthusiasm for doing in recent months.

But if you think Greece's future is at the heart of the Eurozone, that could be plenty room for prices to keep on rising.