Eurozone crisis/Timelines
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Credit ratings:
Standard & Poor (S&P) and Fitch Investment grades are AAA, A, and B; speculative ("junk") grades are BB and B
Moodys Investment grades are Aaa, AA, 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
- 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[2]
- March:
- April:
- May
- Eurogroup/IMF makes available €110 billion to Greece[7]
- August:
- Ireland's credit rating downgraded to AA- by S&P
- IMF/EC review of Greek finances [8]
- September:
- Further support to Ireland's Anglo Irish Bank, Allied Irish Banks and Irish Nationwide banks
- October:
- November:
- The Irish government applies for assistance from the IMF and the EU [9]
- The Irish government announces its National Recovery Plan 2011-14 [10] - 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)