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DUBLIN (Reuters) – Moody's Investors Service slashed Ireland's credit rating by five notches to Baa1 with a negative outlook from Aa2 on Friday and warned further downgrades could follow if Ireland was unable to stabilize its debt situation.

Ireland's debt levels have quadrupled since late 2007 on the back of a banking sector meltdown, and it needs solid economic growth to ensure it can meet repayments and fiscal targets set down in the 85 billion euros EU/IMF bailout agreed last month.
Category: News | Views: 846 | Added by: Kolizey | Date: 17.12.2010 | Comments (0)

BRUSSELS (Reuters) – European Union leaders have agreed to create a permanent financial safety net from 2013 and the European Central Bank moved to increase its firepower to fight the debt crisis that has rocked the euro zone.

But at Germany's insistence, the 27 leaders said the long-term crisis-resolution mechanism, to be added to the EU's governing treaty, would only be activated "if indispensable to safeguard the stability of the euro as a whole."
Category: News | Views: 1257 | Added by: Kolizey | Date: 17.12.2010 | Comments (0)

A violent scuffle between pro-government and opposition lawmakers in the Ukrainian parliament has left legislators bloodied and bruised.

Lawmakers from President Viktor Yanukovych's Party of Regions late Thursday stormed the parliament podium after it had been blocked by legislators from Yulia Tymoshenko's party protesting a corruption probe against her.
Category: News | Views: 674 | Added by: Kolizey | Date: 17.12.2010 | Comments (0)

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