Moody's downgrades Irish government debt rating
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Moody's ratings agency on Monday downgraded Irish government bonds by one notch due to a deteriorating economic outlook, a heavy debt burden and liabilities in the banking system.
Ireland was hit hard by the global financial crisis as a collapse in the property market nearly took down the banking system. It was also among the first European countries to impose painful austerity measures to tackle the outsized public debt load. (AP)
