Moody’s eyes fresh cut to Irish ratings

first_img KCS-content Moody’s eyes fresh cut to Irish ratings Show Comments ▼ whatsapp Tuesday 5 October 2010 8:11 pm Sharecenter_img Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Moody’s has warned it may cut Ireland’s credit rating again, saying additional austerity measures are needed given the huge bill for cleaning up its banks, a weak economic recovery and rising borrowing costs.Ireland’s deeply unpopular government says it could cost up to €50bn (£43.4bn) to unravel banks’ property losses, driving the cost of Dublin’s borrowing to almost three times that of Germany and prompting renewed jitters about debt elsewhere in the Eurozone.While Moody’s emphasised there must be additional fiscal rigour to begin repairing the country’s battered finances, the ratings agency worried that prolonged austerity could cripple domestic demand with a knock-on impact on government revenues.In the latest sign of growing distress in the real economy, Ireland’s services sector shrank for the first time in six months in September following a sharp drop in domestic orders. The purchasing managers’ index survey came on the heels of data last week indicating the manufacturing sector was also back in recession.“It’s important to anchoring fiscal expectations that the government comes up with a credible plan to bring the deficit below three per cent of GDP by 2014, and in that context additional measures are to be expected,” said Dietmar Hornung, Moody’s lead sovereign analyst for Ireland.•Meanwhile, Allied Irish Banks (AIB) said yesterday it will sell a 22 per cent stake, currently valued at around $2.2bn, in New York regional lender M&T Bank Corp in a public offering.The Irish government will take a majority stake in AIB next month to help it fill a capital hole of €10.4bn caused by the bank’s fatal courtship of property developers during the go-go years of the “Celtic Tiger” economy. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULL whatsapplast_img

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