- Feb 6, 2011
Ratings agency Moody’s said yesterday the Republic’s vulnerability to Europe’s continuing financial crisis was the main reason behind its decision to assign junk-bond status to the State’s sovereign debt.
The rating means the agency believes there is a substantial risk the State will be unable to repay its debts, and that investors should treat it as speculative grade, or “junk”.
Europe to blame for Republic’s junk-bond rating - Moody’s
Not much "Ode to Joy" out there for Paddy these days :|
I've always been a recovery skeptic & don't believe for 1 minute that the Eurozone Crisis is settling down at all!
Poland is on stream to join the Euro & whilst all that is luvvly jubbly - Bersani has still failed to form a Govt in Italy.
This paves the way for anti-Euro campaigner Grillo to cause even more instability.
What is the way out of this mess for Ireland or are we set to remain the Junkies of the Western World??? :|
BBC News - Italy limbo as Bersani fails to form coalition