They question the decision of Moody s and the moment in which it is made. Ireland is fulfilling the commitments of their rescue. The drop comes a few days before the publication of the results of its second review quarterly, somewhat questionable for Barroso. On Wednesday, the European Commission (EC) has described incomprehensible the decision of Moody s lower a step, the Ireland debt rating to junk bond level. He has also considered questionable when that has determined to reduce the level. The position of the President of the EC, Jose Manuel Durao Barros or, it is the decision of s Moody’s lowered the rating of the debt of Ireland is incomprehensible and the moment in which it is made is, at least, questionable, said the spokesman for the EU Executive, Pia Ahrenkilde. The news of the reduction of Moody s arrives when the second issuance of quarterly review is about to announce its findings.
In this sense dndio that Ireland has shown determination and decision when implementing its programme of adjustment, the banks are being recapitalized and the Irish being more broadly financial system repaired, which is an essential step for economic recovery in that country, stressed. He added that exports are growing strongly, the country gains in competitiveness and the growth forecast for this year will substantially reduce unemployment. With homework done of course still there is much work ahead and clearly do not have space for complacency, but Ireland is now on the right track, said Ahrenkilde. The Mission of the troika of the European Central Bank, the International Monetary Fund and the European Commission – will be announced tomorrow its findings of the quarterly review of the adjustment programme of Ireland, which amounts to 85 billion euros, he noted.