Ireland is cut to junk status as markets remain volatile

Fears are growing that euro zone debts are in serious danger of spreading. Anxieties were heightened after Moody's cut Ireland's credit rating to junk status indicating a second bailout was likely. The move came after a day of turmoil on the markets as euro zone finance ministers opened the door to a possible Greek default which could ripple through Europe's banking system. ... http://www.euronews.net/