Standard & Poor’s downgraded Ireland’s debt rating by one notch on Wednesday due to concerns over possible increased capital requirements by the country’s banks.
Continue reading S&P Downgrades Ireland’s De…
Fitch Ratings has downgraded Ireland three notches from A to BBB , citing the costs of restructuring the Irish banking system, the country’s weak growth prospects, and uncertainty about its economy due to the deepening financi…
Simply put, the losses Irish taxpayers will be forced to cover are larger than the nation’s economy can support, even with the promised bailout. The EU and Irish political leadership’s attempts to put a brave face on the crisis…
The European Central Bank left interest rates unchanged for a 20th straight month.
Officials at the ECB in Frankfurt left the benchmark lending rate unchanged at 1%, Bloomberg News reported. The move was widely forecast by analyst and economists.
A…
With the fears of a European sovereign debt crisis growing worse, the Spanish government said Wednesday that it’s taking several measures to stop the fiscal contagion from reaching its shores, including selling a 30% stake in i…