From Bloomberg:Ireland’s bid for financial aid yesterday prompted Prime Minister Brian Cowen to call elections after support for his government unraveled.
Cowen made the announcement late today hours after the Green Party said it would pull out of his coalition. He said the vote will come early next year after passage of a 2011 budget.
The euro fell and Irish bonds pared their advance after Moody’s Investors Service said a “ multi-notch” downgrade in Ireland’s Aa2 credit rating was “most likely” because the aid would increase the country’s debt burden.......read on
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