Ireland became the latest entrant to a not-so-desirable club last week, when credit ratings agency Moody’s downgraded Irish bonds to junk status.
The credit ratings agency said its decision to push Ireland beyond the realm of investment grade bonds was due to the growing possibility that a further bailout would be needed in 2013, when the current package of financial support expires.
The move came a week after Moody’s also downgraded Portugal’s debt rating...
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