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