Ireland's monster banks have taken another chunk out of their tottering home country.
Standard Poor's cut its rating on Ireland to A-minus from A Wednesday, citing a weakening economic recovery that stands to further increase the already unbearable cost of propping up the nation's reckless, overextended financial institutions.
Downgraded again
SP said it cut Ireland's rating after raising its estimate of the costs of a cleanup of the banking sector in a severe downturn. SP now tabs as
Wednesday, February 2, 2011
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment