EU Shocked By Irish Debt Downgrade -- The Telegraph
European leaders received a nasty shock as the credit agency Moody's downgraded Ireland's debt, even as the politicians closed a summit intended to prop up confidence in the eurozone.
The dramatic downgrading of Irish debt by five levels sent the cost of the country's borrowing up, as yields - the returns demanded by wary investors - on 10-year government bonds rose more than 24 basis points to pass 8.6pc.
If Ireland cannot stabilise its debt then further revisions may follow, warned Moody's, which has also told Greece and Spain their ratings could fall.
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More News On Europe's Financial Crisis
EU's big three call for long-term budgetary restraint -- EU Observer
A Triple No: Europe's Debt Crisis -- The Economist
European Debt: Why Bailouts Won’t Work and the Euro Will Fall -- Conrad de Aenlle, Money Watch/CBS
Europe's Debt Crisis Needs Politically Bold Solutions -- Stephen Fidler, Wall Street Journal
Euro crisis unresolved -- Gavin Hewitt, BBC
How Will This Crisis End? -- Wall Street Journal
Europe's debt crisis: An uglier 2011? -- Time Magazine
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