What a difference a day or two makes… September 30, 2010Posted by WorldbyStorm in Economy, Irish Politics.
John McHale, writing in the Irish Times on Tuesday, 28th of September.
Spain provides a good example of what can be done when markets take the view that you are getting on top of your policy challenges. Relatively modest accomplishments on its budgetary and banking policies have allowed Spain to detach itself from the stigma of the other “peripherals” – Greece, Ireland and Portugal.
Reported in the Irish Times on Thursday, 30th of September.
The euro fell the most in a week against the yen, fuelled by the Central Bank’s announcement and Moody’s Investors Service downgrading of Spain’s debt ranking.
Moody’s lowered Spain’s rating by one step to Aa1 from Aaa, citing the nation’s “weak” economy.