Fitch downgrades Ireland’s long-term debt

Fitch has downgraded Ireland’s long-term debt, as the credit rating agency warned in December 2010 about weaker growth prospects and the fiscal costs of restructuring and supporting its banking system. The downgrade is seen as a further blow to the Irish economy.

Article also discusses the ongoing process to get the austerity budget for 2011 through parliamentary procedures in Ireland, and political implications.

ESO: Background information: Dublin woos MPs ahead of budget vote http://www.europeansources.info/record/dublin-woos%e2%80%89-mps-ahead-of-budget-vote/

Irish Times, 10.12.10: Irish credit rating cut to level of Libya and SA http://www.irishtimes.com/newspaper/finance/2010/1210/1224285194453.html

France24, 9.12.10: Fitch slashes Ireland's credit rating, citing cost of salvaging banking sector http://www.france24.com/en/20101209-fitch-slashes-credit-rating-cost-salvaging-banking-sector-pat-cox-ireland

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