Wednesday, Aug 25, 2010
Irish Credit Rating Downgraded
Daily Mail: Irish fury at 'flawed' credit rating blow
S&P downgrades Irelands credit rating as it estimates that they may have to shell out up to Euro50bn (£41bn) to shore up a banking system that came close to collapse in 2008. The sum is equivalent to half of the Republic's annual economic output.
Posted by enuii @ 10:34 PM (1407 views) Add Comment
13 Comments
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1. uncle tom said...
Of course it was flawed..
Ireland's credit rating is junk - not AA-
2. Stevie Dee said...
Yet the dow jones is up. Funny old world really. The system is f*ck'd, greenspan said it himself but not in those words. Nikkei down below 9k the other day, dow bouncing off 10k, someone as in the elite are just prolonging the inevitable. It is like being belted, you know its coming and the thoughts are just immense, but once impact has been made there is pain, but it is over and done with, the chav's that have been controlling the show are merely cowards, think wizard of oz. Time for realism not bullshite!
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5. Taffy62 said...
More ransom money to the "name that cannot be spoken" cartel.
If you don't pay the 50Bn we'll be asking the Germans for it.
6. hpwatcher said...
Ireland's credit rating is junk - not AA-
Absolutely. And you can add the UK, US and the PIGS to that too.
7. mrmickey said...
Once a country joined the EU it's credit worthiness was regarded as that of Germany's and was lent to with gay abandon, Ireland is therefore being supported by the credit worthiness of Germany, Ireland as a country is bankrupt.
8. Pyracantha said...
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10. Fubared said...
Funny how nations all cry foul when their credit rating is downgraded - maybe I should try the same when my experian report receives a black mark - oh no, wait a minute, I can't because I'm a debt slave and not a nation.
Turned down for a mortgage? - storm out of the bank screaming "flawed rating system".
At least we debt slaves have assets - most western countries have none left, all sold off in previous crises. All they can promise is 'future income' - and we all know why that's not a very good reason to lend to someone right now...
11. Rental John said...
Comment from Irish Times
www.irishtimes.com/newspaper/opinion/2010/0826/1224277610064.html
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