Eurozone crisis/Timelines: Difference between revisions
Jump to navigation
Jump to search
imported>Nick Gardner (→2010) |
imported>Nick Gardner (→2010) |
||
| Line 45: | Line 45: | ||
: 26th | : 26th | ||
:: Bond yields reach new highs: Irish 9%, Portuguese 7%, Spanish 5%[http://www.ft.com/cms/s/0/d0976a74-f8ca-11df-b550-00144feab49a.html#axzz16N3lipf2] | :: Bond yields reach new highs: Irish 9%, Portuguese 7%, Spanish 5%[http://www.ft.com/cms/s/0/d0976a74-f8ca-11df-b550-00144feab49a.html#axzz16N3lipf2] | ||
: | : 30th | ||
:: Italian and Belgian bond yields rise | :: Italian and Belgian bond yields rise | ||
Revision as of 11:26, 30 November 2010
Credit ratings:
Standard & Poor (S&P) and Fitch Investment grades are AAA, AA, A and BBB; speculative ("junk") grades are BB and B
Moodys Investment grades are Aaa, Aa, A and Baa; speculative ("junk") grades are Ba and B
2006
- October: Italy's credit rating downgraded from A+ from AA- by S&P[1]
2007
2008
- October: Ireland's bank guarantees
- December: Ireland's bank capital injection
2009
- January: Anglo Irish Bank nationalised
- March: Ireland's credit rating downgraded from AAA to AA+ by S&P
- July: European Central Bank implements its covered bond purchase programme[2]
- December: Greece's credit rating downgraded from A- to BBB+ by S&P
2010
- January:
- Ireland's public debt rises to 65 per cent of GDP
- Greece's credit rating downgraded to A- by S&P[3]
- March:
- Portugal's credit rating downgraded from AA to A- by Fitch[4]
- April:
- May
- August:
- Ireland's credit rating downgraded to AA- by S&P
- IMF/EC review of Greek finances [10]
- September:
- Further support to Ireland's Anglo Irish Bank, Allied Irish Banks and Irish Nationwide banks
- October:
- November:
- 21st
- The Irish government applies for assistance from the IMF and the EU [11][12] - approximately Eur 80bn through the IMF and the EU, supplemented by bilateral loans from the UK and Sweden. The EU component of the fund will be financed through the European Financial Stabilisation Mechanism (EFSM), which includes all EU members, the UK is likely to be the biggest single contributor
- 22nd
- Ireland's credit rating downgraded to A by S&P
- 23rd
- The Irish government announces its National Recovery Plan 2011-14 [13] - an additional €15 billion package of measures intended to reduce the budget deficit to below 3% of GDP by 2014 (comprising ⅔ expenditure reductions and ⅓ revenue increases)
- 26th
- Bond yields reach new highs: Irish 9%, Portuguese 7%, Spanish 5%[14]
- 30th
- Italian and Belgian bond yields rise