Tagged with: discount rates on bonds
Why Irish debt is cut to junk status
Michael Burke 13/07/2011
Michael Burke: Moody’s is the first of the credit ratings agencies to cut Irish government debt to below investment grade – the sovereign debt is now ‘junk’. It will be recalled that when the ‘austerity’ programme was introduced- in reality a project to drive down wages and the social wage in order to revive profits- a key …
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