Ireland downgraded as world markets fall

Telegraph
"Ireland's reputation as the "Celtic Tiger" of the 21st century economy has been shattered after its sovereign debt was downgraded, sparking fresh fears about the possibility that it may default as it battles the crisis. Standard & Poor's has announced that it is removing Ireland's coveted AAA rating and replacing it with a AA+ rating, capping a day of misery in global markets.The decision will raise suspicions that the UK may soon find its own debt downgraded."