Brian holds a Master's Degree in Economics (2002) from Texas A&M University. He is an Associate of the Society of Actuaries and a Member of the American Academy of Actuaries. He has a wonderful wife and two spirited little boys.
For links and explanations on the current economic scene, go here.
A few weeks back, Greek bond rates soared and the EU rushed in with a bailout. Crisis averted, story over, right? Not exactly.
Before rates started to skyrocket they were on a steady upward march. After the panic, however, government bond rates returned to that upward trend. This crisis can not be considered over until Greek government bond rates stop going up. They are now north of 8% and are on trend to cross 10% by the end of the year.
Furthermore, I captured CMA Datavision's estimate of the cumulative probability of default back on May 12th. At the time it was 33.92%. That number has now risen to 45.31% a month later.
I see no sign yet that Greece is going to recover without a default or leaving the Euro and printing money.