Ireland

Moody's Predicts Ireland Will Need More Bailout Funds

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(Reuters) – Ireland will need more bailout funds when its current programme ends next year, according to Moody's, the only credit-rating agency to have downgraded the country to junk.

Ireland was the first bailed-out euro country to make a successful return to borrowing on financial markets, enabling it to slice around 10 billion euros ($13 billion) off its post-bailout funding requirements, but Moody's said on Wednesday it might still need more precautionary loans.