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Ratings Gag Is No Joking Matter
Keywords:
European Commissioner Michael Barnier calls for banning credit ratings on countries receiving financial aid. This comes after Moody's strongly downgraded Portugal's rating to Ba2 in July 2011.The downgrade was more severe than expected and comes right after the Greek parlaiment passed austerity measures in Greece. Moody's Ba2 rating suggests a 5 year default probability of 8.1% for Portugal, according to Deutsche Bank.
Portugal- government debt, ratings and borrowing costs
10/23/2010
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Ratings Gag Is No Joking Matter
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Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
Greece Gets New Bailout as U.S. Nears Brink
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Wall Street Journal 05/07/2013
Portugal Returns to Bond Market
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Portugal's Government Thrust Into Turmoil
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Portugal's credit ratings
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Ratings Gag Is No Joking Matter
Wall Street Journal 07/12/2011
The loan deal Portugal negotiated with the EU and the IMF in May 2011.
09/27/2010
The terms of the loan deal and the problems negotiators faced in coming up with a deal that will give Portugal the breathing space to it needs. The economy is expected to contract 2% in 2011, and 2% in 2012. As a result the defict as a percentage of GDP target of 3% was set for the third year in the three year program, instead of earlier as originally planned. The IMF loan interest rate was set at 3.25% for the first 2 years. Portugal's weakness in competitiveness and in its educational system means Portugal badly needs this breathing space.
Grouped Articles
Portugal's Government Thrust Into Turmoil
Wall Street Journal 07/03/2013
Lisbon Cabinet Shuffle Buoys Junior Coalition Party Leader
Wall Street Journal 07/08/2013
Portugalâs President Calls for Early Elections
New York Times 07/11/2013
Portugal Unveils Toughest Austerity Budget Yet
Wall Street Journal 10/16/2013
Economic Report Supports Socialistsâ Policy in Portugal
New York Times 09/27/2010
Portugal's public finances: The apology of Sócrates
Economist 10/23/2010
The debt crisis that Portugal faces, after the crisis in Greece.
04/30/2010
Greece and Portugal are in much riskier shape than Argentina was when it defaulted in 2001, argues Simon Johnson.
Grouped Articles
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
Wall Street Journal 02/11/2014
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Greece, Missing I.M.F. Payment, Is Called Effectively in Default
New York Times 06/30/2015
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Why Portugal is different from Greece in 2012-2013, and yet may find its debt unsustainable as the economy shrinks- the situation in 2012-2013
04/30/2010
Portugal is taking vigorous steps without social unrest, including spending cuts that will stabilize the deficit, labor reform, and increasing exports through trading links to Africa and Latin America. Portugal needs to borrow about 10 billion euros in 2012 and the ratings downgrade has hurt Portugal by raising rates on new borrowing to about 20%. The economy is expected to shrink by 3% in 2012.
Grouped Articles
Ratings Gag Is No Joking Matter
Wall Street Journal 07/12/2011
Greece Gets New Bailout as U.S. Nears Brink
Wall Street Journal 07/22/2011
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
The Next Global Problem: Portugal
New York Times 04/30/2010
Portugal Emerges From Recession
Wall Street Journal 08/15/2013
Credit Ratings firms and the U.S. and Eurozone financial crisis of 2010-2012
12/08/2009
Criticism of credit ratings firms. European commissioner Barnier calls for banning credit raings on countries receiving financial aid after Moody's strongly downgraded Protugal's debt ratingin July 2011. The problems of credit ratings being very pro-cyclical and the need to reduce the role of ratings in the market and regulatory framework in Europe.
Grouped Articles
ECB Chief Seeks Tighter Fiscal Union
Wall Street Journal 06/22/2010
What Crisis? Big Ratings Firms Stronger Than Ever
Wall Street Journal 03/10/2016
Ratings Gag Is No Joking Matter
Wall Street Journal 07/12/2011
Debt Raters Avoid Overhaul After Crisis
New York Times 12/08/2009
Wall Street Journal 07/23/2011
S&P downgrades U.S. credit rating for first time - The Washington Post
Washington Post 08/06/2011
Portugal- economy in 2010-2015
10/23/2010
Grouped Articles
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
Portugalâs President Calls for Early Elections
New York Times 07/11/2013
Portugal Emerges From Recession
Wall Street Journal 08/15/2013
After a Recession in Portugal, the Tiny Green Fruits of Success
New York Times 08/28/2013
Portugal Unveils Toughest Austerity Budget Yet
Wall Street Journal 10/16/2013
Portugal's public finances: The apology of Sócrates
Economist 10/23/2010
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