ireland

The Bank of Spain announced on Friday that the Spanish economy grew by 0.2% during the 1st quarter of 2011, for the second consecutive quarter of 0.2% growth. Spain's central bank also noted that the Spanish economy was up 0.7% from the same quarter a year earlier. The modest growth was said to...

Moody's Investors Service downgraded Ireland's credit rating two notches to Baa3 from Baa1 on Friday and said that the outlook for the financially troubled country remains negative. Moody's said that the key factors of its downgrade of Irish debt were the decline of the government's financial...

Moody's Investment Service cut Ireland's sovereign debt rating by two places on Friday, citing a bleak economic outlook and ongoing European fiscal problems. "Should the intended fiscal consolidation goals not be met, a further rating downgrade would likely follow," Moody's said. "Moreover, a...

Nouriel Roubini, chairman of Roubini Global Economics, told CNBC on Friday that recapitalizing Irish banks would be a mistake if it interfered with its own financing concerns. It's expected that the European Central Bank, the Irish Central Bank and Irish government will fund a pool to assist...

In what is sure to be yet another blow to investor confidence, Moody's Investors Service downgraded the long-term credit rating of Portugal's government bonds two levels from the previous rating of A1 down to the new rating of A3. Along with the lower rating, Moody's gave Portugal a negative...

Eurozone leaders may be close to reaching an agreement on joint measures that member countries will take with the aim of increasing the the Eurozone's competitiveness and protecting the euro. The list of measures under consideration include reducing labor taxes, linking retirement age to life...

Ireland's (NYSE: IRE) parliament has approved its 2011 budget that meets International Monetary Fund (IMF) and European Union (EU) requirements. By meeting the requirements, Ireland secures an 85 billion Euro bailout. An AFP article reports the IMF released a statement saying, "We welcome approval...

The will of the Spanish to hold to their austerity plan has begun to be questioned. The nation's finance minister, Elena Salgado, will present her budget for the next year shortly. Capital markets investors do not believe that the nation's austerity measures are adequate. Spain's unemployment is...

Moody’s Investors Service (NYSE: MCO) downgraded Ireland's credit rating one notch, to Aa2 from Aa1, citing a weak banking system and rising debt according to a report from the New York Times. Even with the downgrade, Ireland still remains comfortably above junk level. Moody’s also changed the...

CDS Spreads, i.e. Credit Default Swap insurance, which is used to hedge positions in government bonds, is rising across the Eurozone this morning. Here are the six most notable rises: 1. Portugal 340/370 vs yesterday close of 275 bps 2. Italy 152/160 vs yesterday close of 134 bps 3. Ireland 205/220...