“Ireland and Greece have no choice than ‘to do fairly dramatic things in as clear a manner as possible’.”
The BBC notes that credit rating agency Fitch have downgraded Ireland’s credit rating from AA- to A+ citing the recently announced cost of rescuing the Irish banking system. RTÉ adds The agency said it was cutting the rating to ‘A+’ from ‘AA-‘ due to what it called the greater than expected costs associated with the Government’s recapitalisation of the Irish banks, especially Anglo Irish Bank. The agency has put a negative outlook on the rating, meaning a further downgrade is …