S&P Downgrades Ireland's Debt to A-
Standard & Poor's downgraded Ireland's debt rating by one notch on Wednesday due to concerns over possible increased capital requirements by the country's banks.
Ireland bailout
Ireland's Credit Rating Downgraded 3 Notches by Fitch
Fitch Ratings has downgraded Ireland three notches from A to BBB , citing the costs of restructuring the Irish banking system, the country's weak growth prospects, and uncertainty about its economy due to the deepening financial crisis, despite the international economic assistance it received last month.
Ireland's Austerity Budget:
Not Likely to Avoid Default
Simply put, the losses Irish taxpayers will be forced to cover are larger than the nation's economy can support, even with the promised bailout. The EU and Irish political leadership's attempts to put a brave face on the crisis is no match for this crippling burden.
Spain to Sell Stake in State Lottery as Debt Crisis Looms
With the fears of a European sovereign debt crisis growing worse, the Spanish government said Wednesday that it's taking several measures to stop the fiscal contagion from reaching its shores, including selling a 30% stake in its national lottery business, Bloomberg reported.
What to Watch for in the Dollar's Moves
The dollar-stocks see-saw -- in which the two move in opposite directions -- seems to be holding up. And over the longer term, there's good reason for the dollar to stay on its recent upward trend, which would be bad news for stock prices.
Can Hong Kong Gently Deflate Its Real Estate Bubble?
Hong Kong took a new step this week to let some air out of its real estate bubble, levying a heavy tax on property flippers -- a move that has already sent asking prices there downward. But Hong Kong's real estate risks are dwarfed by those in Mainland China.
Ireland Deal: Euro-Politics Plays a Major Role
Investors should stay focused on the dynamics within European politics that shaped the rescue. Other indebted economies -- like Spain, Portugal and Italy -- could find themselves in a similar situation, after all. And politics will again guide market moves.