Tuesday, July 20, 2010

Moody's Downgrades Ireland's Credit Rating


From CNN: Moody's downgraded Ireland for the second time in a year Monday. In a familiar refrain, the rating agency pointed to deteriorating government finances and weak growth prospects as the country cleans up after a massive real estate bust.

Ireland's economy contracted 7% last year, and the nation's debt load as a share of economic output could quadruple by the time the crisis peaks, Moody's said.....read on

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