Tis the season for decade-in-review pieces. One thing I haven't seen people noting, however, is that we're at the 10th anniversary of the Greek debt crisis, which was widely treated as a harbinger of fiscal crisis everywhere 1/ 
In reality it was no such thing. Countries like the US and UK that borrow in their own currencies never had any problems. Here's Greece (blue) v US (red) 2/
In fact, even euro countries saw their debt crises melt away as soon as Mario Draghi said three words — "whatever it takes" — and the liquidity panic ended. Here's the Spain-Germany spread 3/
But the Greece analogy did enormous damage, helping to justify austerity policies that cost millions of jobs and greatly delayed recovery. Without that massive policy error, we probably wouldn't have Trump and Britain wouldn't be leaving the EU. 4/
So I'm glad that we've seen big apologies for misusing the Greek crisis from ... actually, I can't think of anyone who got it wrong who has admitted error or accepted any responsibility for destructive policies 5/
