Even after the Soviet Union’s repudiation of czarist Russia’s debts – perhaps the twentieth century’s most notorious (and most misunderstood) debt default – certain creditors expressed interest in lending to the new regime, in part because Soviet agencies repaid debt that they considered legitimate. More recently, Ecuador continued payments on the small portion of debt that it considered acceptable after defaulting on its international debts in 2008 (under circumstances far less extreme than Greece’s).