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Wednesday 18 May 2022
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 BAN ON “all forms of advertising” by betting companies before the 9pm watershed has been recommended by the Oireachtas Justice Committee.
A report published by the committee said around 3,400 15 and 16-year-olds are “engaged in problem gambling in Ireland”.
“Stakeholders emphasised, in particular, the need for a pre-watershed ban on all forms of gambling advertising.
“They pointed out that a cultural shift had resulted in advertising on cigarettes being banned and advertising on alcohol being curtailed and recommended that the same approach be applied to gambling advertising,” the document states.
In terms of online adverts, the report notes that gambling ads are typically aimed at people over the age of 25. However, stakeholders noted “it can be challenging to prevent all websites from showing adverts to those underage”.
The report was compiled as part of the pre-legislative scrutiny of the Gambling Regulation Bill, which is expected to pass next year.
What do you think: Should all gambling ads be banned before 9pm?
Poll Results:
Share your story: voices@thejournal.ie
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