Fitch Ratings downgraded Ireland

LONDON—Fitch Ratings downgraded Ireland to triple-B plus on Thursday, citing the costs of the restructuring of the banking system and the loss of access to affordable funding in the market. The ratings agency also said the three-notch downgrade from A plus was spurred on by weaker prospects and greater uncertainty regarding the economy as a result of the intensification of the financial crisis.
"The scale and pace of the deterioration of public finances, continuing contingent fiscal and macro-financial risks emanating from the banking sector, combined with the highly uncertain economic outlook and loss of market access, means that Ireland's sovereign credit profile is no longer consistent with a high investment grade rating," the report said.
A source close to the government contradicted Fitch. "Contrary to the Fitch analysis," the person said, "the exchequer deficit has not deteriorated further in the past year but has stabilized."
However, the country has retained its investment grade status due to the aid package provided by the European Union and International Monetary Fund, as well as the commitment from the Irish government to pursue its fiscal consolidation plans.Andreea Vass, Banca Mondiala, Camera Deputatilor, Emil Boc, FMI, Guvern, Jeffrey Franks, Ministerul Economiei ,Mugur Isarescu, PIB Romania, TVA, Traian Basescu, agenda de business, bugetul de stat, economie, motiune de cenzura, pensii ,revista presei