The Irish Bank Bailout and Spain’s Downgrade

Filed in euro, moodys, New Gold, Spot Gold by on October 1, 2010 0 Comments

Filed under: Economic Data , Financial Crisis Just when fears of a eurozone collapse faded from the front page, the news of an Irish bank bailout and of Spain’s credit rating downgrade reignited investor concerns, CNN Money reports. Ireland’s central bank had to bail out its Anglo Irish Bank to the tune of $40 billion. The bailout raises its staggering deficit from 11.75% to 32% in 2010, ten times higher that the European Union’s guidelines. “We hope to bring closure to this matter and that is what we have done today,” Finance Minister, Brian Lenhan said, Reuters reported. “Yes, of course these figures are horrendous but they can be managed over 10 years.” Continue reading The Irish Bank Bailout and Spain’s Downgrade The Irish Bank Bailout and Spain’s Downgrade originally appeared on BloggingStocks on Fri, 01 Oct 2010 11:30:00 EST. Please see our terms for use of feeds . Read | Read | Permalink | Email this | Comments

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