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Monday 2 August 2021
Exchanging promissory notes for long-term bonds “should reduce the government’s debt-servicing costs and lower refinancing risk.”
Parliament voted in favour of the legislation today in a bid to improve the stability of financial markets.
The European Stability Mechanism has been downgraded by Moody’s, following a similar drop for France.
Ireland’s credit rating is still only BBB+, but Fitch says it’s no longer expecting to downgrade us again.
Moody’s said the mass downgrade reflected the banks’ ability repay their debts.
The ratings agency says approving the Fiscal Compact removes a risk, but doesn’t guarantee a return to the markets.
The ratings agency raised fears over the “creditworthiness” of the country and its ability to support its banks.
The nation has held onto its AAA rating but has been warned it could lose its top rating if cut-backs are eased.
Italy, Spain, Belgium, Cyprus and Slovenia have all been downgraded by the American ratings agency.
Fitch ratings agency has this evening said it is considering downgrading Ireland, Italy, Spain, Belgium, Slovenia and Cyprus by one or two notches.
Danske Bank and Rabo Bank are two of five European banks to be downgraded overnight by the ratings agency Fitch.
Moody’s follows the lead of Standard & Poor’s, complaining about “the absence of measures to stabilise credit markets”.
The agency’s latest credit ratings downgrades include Bank of America, Goldman Sachs and JPMorgan Chase.
A report in the ‘Welt on Sonntag’ newspaper says six AAA-rated countries are contemplating plans for common bonds.
The agency cuts its rating of Italy for the first time in two decades – as fears continue over over the viability of the Eurozone.
In a widely anticipated move, the credit ratings agency has downgraded Société Générale and Crédit Agricole over fears of the banks’ potential exposure to Greek debt.
China was less than kind about the US’s recent downgrading by Standard & Poor’s.
In the aftermath of the debt downgrade, people are wondering how S&P and the likes became so powerful. Here’s the answer.
Nick Leeson believes NAMA is a “necessary evil”, but says it’s time to jettison those developers who can’t work with the agency.
On a visit to Portugal, former trader Nick Leeson finds a country that will find it more difficult to recover than Ireland – and shows that Moody’s got our credit rating dive wrong.
Fitch has given Greece a CCC rating, following on from other credit rating agencies last month.
Standard & Poor’s drops Greece another three notches and says any restructure will be considered a sovereign default.
A bluffer’s guide to credit ratings and their impact.
A NUMBER OF Bishops and priests say they intend to hold communions and confirmations, despite Covid-19 public health advice.
Last week, the Bishop of Elphin Kevin Doran said he had held discussions with senior priests in his diocese, and decided that scheduled ceremonies would proceed in line with public health regulations.
He said the guidance issued by Government was advice rather than regulation.
Parish priest Fr Joe McDonald told The Irish Independent today that he has 1,200 children awaiting confirmation and communion, half of whom have been waiting since last year.
However, Health Minister Stephen Donnelly told the same paper that he urged Catholic bishops not to resume the ceremonies.
He appealed to clergy to stick with the public health guidelines, pointing out that Covid-19 is a deadly virus.
So, today we’re asking: Should communions and confirmations be allowed go ahead this month?
Poll Results:
Share your story: voices@thejournal.ie
This week, our reader is disciplined and organised in managing her finances.
Our columnist muses on the Zappone furore, summer days and what’s next for Donald Trump.
Clouds and sun with a couple of showers
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Min: 9 °C
Mostly cloudy with a couple of showers
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Mostly cloudy with a couple of showers
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