Dublin-based RTE reported yesterday that the EU and IMF bailout package for Ireland's ailing economy will total 85 billion euro. Standard and Poor's lowered Ireland's bond rating from AA to A. And now the euro has fallen to two-month low against the dollar. Bad news for Ireland and the Euro-zone. But also bad news for the US, says Brookings Senior Fellow Martin Baily, who sees instability in Europe as a real threat to US recovery:
For more of Baily's analysis of the impact of European struggles on US recovery, click here.
Posted
11-24-2010 9:01 AM
by
Graham Griffith
Filed under: global business, IMF, exports, global economic crisis, brookings, recovery, global banking, EU, Europe, Euro Zone, euro, Ireland, global contagions, martin baily, dollarr