Eurozone crisis/Timelines: Difference between revisions
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imported>Nick Gardner m (→2010) |
imported>Nick Gardner (→2010) |
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::Portugal's credit rating downgraded from AA to A- by Fitch[http://news.bbc.co.uk/1/hi/8584812.stm] | ::Portugal's credit rating downgraded from AA to A- by Fitch[http://news.bbc.co.uk/1/hi/8584812.stm] | ||
: April: | : April | ||
::Greece's credit rating downgraded to BB+ by S&P[http://www.alacrastore.com/research/s-and-p-credit-research-Greece_Long_And_Short_Term_Ratings_Lowered_To_BB_B_Outlook_Negative_4_Recovery_Rating_Assigned_To_Sovereign_Debt-794506] | |||
::Spain's credit rating downgraded from AA+ to AA by S&P[http://ftalphaville.ft.com/blog/2010/04/28/214791/sp-downgrades-spain-to-aa/] | ::Spain's credit rating downgraded from AA+ to AA by S&P[http://ftalphaville.ft.com/blog/2010/04/28/214791/sp-downgrades-spain-to-aa/] | ||
::Portugal's credit rating downgraded from A+ to A- by S&P[http://ftalphaville.ft.com/blog/2010/04/27/213326/sp-cuts-portugals-ratings-two-notches-to-a/] | ::Portugal's credit rating downgraded from A+ to A- by S&P[http://ftalphaville.ft.com/blog/2010/04/27/213326/sp-cuts-portugals-ratings-two-notches-to-a/] | ||
Revision as of 11:18, 1 December 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 [11]
- September:
- Further support to Ireland's Anglo Irish Bank, Allied Irish Banks and Irish Nationwide banks
- October:
- November:
- 21st
- 22nd
- Ireland's credit rating downgraded to A by S&P
- 23rd
- The Irish government announces its National Recovery Plan 2011-14 [14] - 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%[15]
- 28th
- Agreement is reached on the Ireland rescue package[16] An €85 billion loan facility of which €67½ billion is to come from outside Ireland. €35 billion to support the banking system; (€10 billion for the immediate recapitalisation and the remaining €25 billion will be provided on a contingency basis) and up to €50 billion to cover the financing of the Irish government's budget
- 30th
- Italian and Belgian bond yields rise