We won the 6 nations tournament but we lost an ‘A’.
Ireland was downgraded to AA+ by S&P on Monday from AAA.
Even more: S&P warned Dublin has to arrest the detoriation of Ireland’s public finances and served a gloomy outlook.
Ireland‘s economy shrank by a record 2.3% in 2008 after a 7.5% drop in the fourth quarter.
Rating agencies Moody’s and Fitch still rate Ireland AAA but both gave a negative outlook.
The detoriation of the budget in the mean time proceeds at light speed. The government thought some while ago the deficit would reach 9.5% of GDP. But now estimates are at minus 11% of GDP. Almost 4 times the European’s approved limit and the worst in the euro zone.
Now, how to solve these problems?
By protesting.
At least that’s what the unions are standing for.
But hey, don’t worry: tomorrow we will play Italy.
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Ireland was downgraded to AA+ by S&P on Monday from AAA.
Even more: S&P warned Dublin has to arrest the detoriation of Ireland’s public finances and served a gloomy outlook.
Ireland‘s economy shrank by a record 2.3% in 2008 after a 7.5% drop in the fourth quarter.
Rating agencies Moody’s and Fitch still rate Ireland AAA but both gave a negative outlook.
The detoriation of the budget in the mean time proceeds at light speed. The government thought some while ago the deficit would reach 9.5% of GDP. But now estimates are at minus 11% of GDP. Almost 4 times the European’s approved limit and the worst in the euro zone.
Now, how to solve these problems?
By protesting.
At least that’s what the unions are standing for.
But hey, don’t worry: tomorrow we will play Italy.
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