Moody's cuts Ireland's debt rating 2 levels to Baa3, one notch about junk status. Added to the...

|By:, SA News Editor

Moody's cuts Ireland's debt rating 2 levels to Baa3, one notch about junk status. Added to the usual reason of a country suffocated by debt, Moody's cites the likely series of policy hikes by the ECB as squeezing the Irish even more, given 70% of mortgages are variable rate.