Ireland

Moody's has downgraded its rating of Irish banks to junk status, following its decision last week to cut Ireland's sovereign debt rating by two notches.

Moody's has slashed Ireland's sovereign debt rating by two notches, to BAA3 from BAA1, on its weak economic growth prospects.

Jean Claude Trichet, the president of the European Central Bank, has defended yesterday's 25 basis point hike in interest rates as good for the eurozone, as EU leaders prepare for talks on the bailout of Portugal.

Henderson's Emily Adderson, manager of the £85m Global Financials fund, gives her take on the findings from the stress tests on Ireland's banking sector, announced yesterday.

Irish economy contracted in the fourth quarter of 2010, shrinking 1.6% on the back of poor consumer spending, exports and investment.

Hannah Beecham talks to three funds industry players asking them how safe is it for professional investors to do business with funds based in this jurisdiction.

The new Irish government could hit holders of bank debt with serious ‘haircuts', drying up bank funding and even derailing the European economic recovery, bond managers have warned.

PIIGS STILL A CONCERN FOR EURO CREDIT

The Irish government is poised to inject a further €3.7bn into Allied Irish Banks, effectively nationalising the lender.

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