MoS Creighton comments on Moody's downgrade
Moody’s downgrade does not reflect our true
position – MoS Creighton
Minister for European Affairs, Lucinda Creighton TD, today said
that Irish bond yields do not reflect Ireland’s true economic
position.
Speaking at a lunch of EU Ambassadors in Dublin, Minister Creighton
said:
“I am confident that the Irish economy will rebound. The
fundamentals of our economy are strong.”
“It is hard to understand the disappointing decision on the part of
Moody’s to downgrade Ireland’s credit rating – a decision
completely at odds with the recent views of others. The Commission
put it clearly yesterday when it called the rating cut
“incomprehensible” and pointed to our strong export growth and
regained competitiveness.”
“I think that it is fair to say that yields attaching to sovereign
bonds within the euro area zone at present are a reflection, to a
greater or lesser degree, of the general and continuing nervousness
which pervades the markets.”
ENDS
14 July 2011
