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Ratings agency S&P upgrades Irish outlook to stable from negative


Marcos the black

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Ratings agency S&P upgrades Irish outlook to stable from negative - Independent.ie

"The change comes just days after the Government, led by Finance Minister Michael Noonan, secured a deal on the Anglo promissory note debt with the European Central Bank.

The move "reflects our expectation that the exchange of promissory notes for longer-term government bonds significantly reduces the Irish government's debt-servicing costs and refinancing risk, and supports medium-term fiscal consolidation,” S&P said in a statement."

More good news in light of the deal struck last week. So not only has our bond yields gone down on foot of the deal, but now we are being upgraded too... Another FF "achievement" lifted from our heads.

More of the same please.
 

Keith-M

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Why wouldn't they? They now know we're such complete suckers that we'll take on any debts and lump them on our children, even those that don't belong to us.
 

DaveM

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A ratings agency said that? Has to be true so ;)
 

44percent

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Ratings agencies are part of the problem but nonetheless this news is welcome. But there has to be a jobs benefit on the ground.
 

commonman

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This move is part of the overall improving business environment which will lead to jobs. A step in the right direction if you like.
Our unemployment rate is 14.6% can you see it falling by say 4 or 5% in the next few years.
 

wombat

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Where are the jobs?
Mostly in the multinationals for people with skills which are in demand both here and abroad. Our problem is to get more of the middle to low skill jobs on offer. Ultimately that is what the govt. will be judged on.
 

wombat

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Our unemployment rate is 14.6% can you see it falling by say 4 or 5% in the next few years.
Yes but it will take a lot of effort on multiple fronts.
 

wombat

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This move is part of the overall improving business environment which will lead to jobs. A step in the right direction if you like.
The more good economic news the better. It should help FDI. I suspect we are getting close to the stage where wealthy foreigners start looking at picking up commercial property with an eye to future profits.
 

commonman

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There is 18.8m people out of work across Europe 11.8% every country is crying out for work where there all going to get work.
 

DaveM

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Good news threads never do....
MTB, all joking aside, do you really expect people to get all warm and fuzzy over the pronouncements of a ratings agency? These guys and their credibility had a pretty ugly divorce a few years back in case you've forgotten.
 
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