Moody's downgrades Ireland from Baa3 to Ba1, with outlook negative. The main reason is the...

|By:, SA News Editor
Moody's downgrades Ireland from Baa3 to Ba1, with outlook negative. The main reason is the agency's belief that Ireland will need "further rounds of funding" once the current bailout dries up at the end of 2013. The euro drops a bit, but surely markets have known this was coming.