Credit downgrade vexes market worshippers
The decision of the rating agency, Standard and Poor’s, to downgrade the credit rating of Ireland from AA to AA- was met with hypocritical gnashing of teeth by Irish establishment figures. The National Treasury Management Agency rushed to criticise S&P, saying that their approach was "flawed". Minster of State, Dara Calleary declared that they used a "very negative analysis".
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