The second EU country has lost the maximum credit rating.

Agency Standard & Poor's has lowered the maximum credit rating of Ireland - "AAA" - one step to "AA +" with the forecast "negative," writes The Wall Street Journal. This was done because of the growing fiscal deficit countries, as well as the need for new steps to stabilize its financial system, which is due to the global crisis to the brink of collapse.
Ireland became the second country of the European Union, lost its highest credit rating. The first in this list has become Spain, which S & P downgraded the rating in January 2009. Have been demoted and evaluate the solvency of a number of other European countries, in particular, Greece and Latvia.
The Irish economy has been one of the most severely affected by global economic crisis. GDP declined in the fourth quarter of 2008 to 7.5 per cent due to the collapse of the housing market. Economists expect that in future the situation will only worsen. Worse than the Irish had only quarterly performance of the Baltic states.
Because of the crisis, the Irish state was forced to guarantee all bank accounts in the country, and to nationalize the two largest financial institution. This was done to prevent massive capital outflows from the country.
Experts S & P noted that the rating could fall and Ireland dalshshe as the situation deteriorates in the country's economy, reports Bloomberg. According to the forecasts of the local Central Bank, the GDP of Ireland in 2009 will fall by 6 per cent.