Bank bailouts bleeding Ireland! Ireland’s credit rating downgraded by Moody’s StockmarketFunding.com’s CEO & Chief Economic Analyst Mario Marciano alerted investors and traders over a year ago of the credit risks of the Eurozone, specifically Ireland and how the risks were systemic and would ultimately lead to debt downgrades.

We highlighted the problems with the very high debt/GDP Ratio. In this video we discuss US GDP increase of 3% and how that can easily go to 0%. The support of the current banking system in Europe as made it clear that Ireland has a problem. These worldwide leaders didn’t want to do the right thing and clean up their balance sheets. They decided to bailout Greece and we told people about the longer term implications of such irrational policies. The earnings cycle in the US will go down as global spending continues to decline. This is the peek in those earnings cycle as we’ve been highlighting in recent videos.

On 30 September 2008, the Irish Government declared a guarantee that intends to safeguard the Irish banking system. The Irish State guarantee, backed by taxpayer funds, covers “all deposits (retail, commercial, institutional and interbank), covered bonds, senior debt and dated subordinated debt”.

As of December 2007, Ireland’s net unemployment benefits for long-term unemployed people across four family types (single people, lone parents, single-income couples with and without children) was the third highest of the OECD countries (jointly with Iceland) after Denmark and Switzerland.

How’s that working out for ya?

“Credit agency Moody’s has downgraded Ireland’s government bond ratings to Aa2”

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Ireland has been hit hard by the 2008 global financial crisis, and the repercussions are still being felt today. One of the major contributing factors to the country’s economic woes has been the bank bailouts that were necessary to prevent a complete collapse of the financial sector.

The Irish government made the decision to bail out its failing banks in 2008, and the cost of this decision has been staggering. The total cost of the bank bailouts was estimated to be around €64 billion, which equated to around 40% of the country’s annual GDP. This massive financial burden has had a profound impact on the country’s overall economic stability and growth.

One of the most significant consequences of the bank bailouts has been the impact on Ireland’s credit rating. Moody’s, one of the leading credit rating agencies, downgraded Ireland’s sovereign credit rating in 2010, citing the massive cost of the bank bailouts as a key factor. This downgrade led to increased borrowing costs for the Irish government, making it even more difficult for the country to recover from the financial crisis.

The downgrade also had a negative impact on investor confidence in Ireland, further hampering the country’s ability to attract foreign investment and stimulate economic growth. This, in turn, has led to higher unemployment rates and reduced consumer confidence, creating a vicious cycle of economic hardship for the Irish people.

The bank bailouts also had a significant impact on Ireland’s public finances, with the country’s budget deficit reaching unprecedented levels as a result. The Irish government was forced to implement severe austerity measures to try and reign in the deficit, which further exacerbated the economic hardships faced by the Irish population.

The consequences of the bank bailouts are still being felt today, with Ireland’s economy struggling to fully recover from the 2008 financial crisis. The country is still grappling with high levels of public debt and continues to face significant economic challenges.

In conclusion, the bank bailouts have had a devastating impact on Ireland’s economy, leading to a downgrade of the country’s credit rating and exacerbating its financial woes. The long-term consequences of these bailouts continue to be felt, underscoring the need for careful and prudent financial management to prevent such crises from occurring in the future.