Irish sovereign debt cut to junk; Italy remains under pressure; Possible EU summit on Friday
Jul 13th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish sovereign debt was cut to junk status on Tuesday night by Moody's Investor Services, which cited the probability that Ireland will need additional official financing and for investors to share in losses before it can return to the private market. Meanwhile, market pressure remains on Italy while EU leaders discuss if an emergency summit should be held on this Friday.