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Ireland Downgraded (Again)

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http://imarketnews.com/node/29475

Lastly, the Irish government's financial strength may suffer as a result of what may be the first of a series of policy rate increases by the European Central Bank (ECB) to slow the rise in euro area inflation. Specifically, Ireland's finances may be impacted by the resulting increase in its own funding costs, as well as by the adverse impact of rising interest rates on Irish consumers, given that more than 70% of Irish mortgages are variable-rate mortgages. Moreover, a strengthening of the euro may negatively affect exports.

Suicidal policy making in action. They could downgrade Portugal, Spain, etc easily with the same rational.

Surely ECB policy needs to be targeted at the weakest member of the zone not the strongest?

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The PIIGS are junk, the UK is junk, the US is junk.

The global economy is junk.

Couldn't agree more. The interest rate policy is and was junk, the ratings agencies are junk - politically and financially motivated junk output generators. The same agencies that are issuing downgrades were issuing triple A ratings to junk. The policies have junked the economy - dismembered it, exported it, and riddled it with debt.

Everything else - including "tightening" at 1 1/4 percent or whatever it is just pure ******** with inflation running 10x that number in core essentials. The only reason the US ratings are dribbling their so called ratings into the ether is to take peoples eyes off the steaming pile of shit in the US.

Edited by OnlyMe

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The PIIGS are junk, the UK is junk, the US is junk.

The global economy is junk.

A bit of an Epic generalisation there, Burkinofasa is positively booming, the Ouagadougian Mayor is beating off relocating businesses with a stick

Edited by Tamara De Lempicka

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http://uk.reuters.com/article/2011/04/15/uk-ireland-moodys-idUKTRE73E14S20110415

Moody's cut Ireland's sovereign rating by two notches to the verge of junk status on Friday and kept its outlook on negative, pushing the euro lower and adding to renewed pressure on the euro zone's weaker countries.

The downgrade cut short a rare spell of good news for debt-ridden Ireland after the government said on Thursday it had passed a review of its economic progress by creditors and ratings agency Fitch upgraded its outlook.

The move also followed a soaring of Greek borrowing costs to new highs.

Pure comedy, and yet Greece doesn't get a downgrade.

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A bit of an Epic generalisation there, Burkinofasa is positively booming, the Ouagadougian Mayor is beating off relocating businesses with a stick

The mayor of Ouagadougou and number three of Burkina Faso's ruling party, Simon Compaore, was injured when angry soldiers ransacked his home, an associate said Wednesday.

http://news.yahoo.com/s/afp/20110330/wl_africa_afp/burkinamilitaryunrest_20110330135708

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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