The Department of Finance says a decision by Moody’s to downgrade our credit rating is out of line with other agencies.
The group reduced Ireland’s debt to ‘junk’ status last night – just hours after European leaders reached agreement on a number of measures that meant we could be in line for a cheaper bailout.
- Advertisement -
But Moody’s said last night that Ireland may need a second bailout in 2013 – when the current support programme from the EU and the IMF runs out.
And it said there was an increasing possibility that private sector holders of Irish debt would be asked to take part in talks on a second rescue program.
