Tag Archives: Moody’s

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Also….

 

Moody’s is upgrading its view as Irish employment grows, the government deficit narrows and the wider crisis which threatened the euro-region’s future passes…Irish mortgage loans in arrears by more than three months rose to a record 18.4 percent in the first quarter, Fitch Ratings said this week.

Some investors may scratch their head about valuations for Ireland,” Rainer Guntermann and David Schnautz, analysts with Commerzbank AG, wrote in a note to clients this week, adding the economic backdrop was “mixed.”

We’re going from Banjaxed to Mahogany Banjaxed.

Yay!

Moody’s Set to Upgrade Ireland For Second Time This Year (Donal Griffin, Bloomberg)

The report isn’t completely gloomy – Moody’s argues that, should events go well, Spain, Portugal and Italy could be in better shape by 2013. However, it also warned that “the complete unwinding of the periphery countries’ accumulated imbalances” will still take several years. Moody’s added that Greece and Ireland potentially need until 2016 to rebalance their economies – beyond the point where both countries’ IMF-led fiscal reform plans are meant to have ended.

 

Eurozone Crisis Live: Moody’s Warns Weaker Nations Still Only Half Way There (Guardian)