		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/eu-debt-crisis-hits-world-markets.jpg"><img class="alignnone size-full" title="The FTSE 100 Index was 2 points lower at 5,879" src="http://londonglossy.com/wp-content/uploads/2010/12/min-eu-debt-crisis-hits-world-markets.jpg" alt="The FTSE 100 Index was 2 points lower at 5,879"/></a></p>
<p>Markets across the world have faltered as a sharp downgrade of Ireland&#8217;s credit rating and concerns over other EU countries&#8217; debt spooked investors.</p>
<p>The FTSE 100 was 2 points lower at 5,879, while Germany&#8217;s DAX was down 0.2%. The CAC-40 in France shed 0.4%.</p>
<p>Wall Street followed European markets lower shortly after opening &#8211; the Dow Jones Industrial Average was 0.2% lower and the Standard &#038; Poor&#8217;s 500 was down less than 0.1%.</p>
<p>Ireland&#8217;s credit rating was slashed from Aa2 to Baa1 by key agency Moody&#8217;s, while Greece had its already low rating placed on review for a further downgrade.</p>
<p>The report comes after a similar move earlier this week to place Spain&#8217;s debt on review.</p>
<p>The euro-related misery continued as Lloyds issued a warning over the impact that Ireland&#8217;s debt crisis will have on its performance this year.</p>
<p>The part-nationalised bank announced it will have to write off more of its £26.7 billion portfolio of loans in the country due to the deteriorating economic situation in the recently bailed out country.</p>
<p>Shares slumped 2.6p to 66.3p after the bank said it expects bad debt losses of £4.3 billion this year, compared with the £1.6 billion reported in June.</p>
<p>EU leaders revised the Lisbon treaty at a summit in Brussels in a move to calm financial markets and restore the credibility of the euro. But this was not enough to calm traders, who pulled out of the Footsie&#8217;s banks.</p>
<p>Royal Bank of Scotland, also closely tied to Ireland, was down 2.1p to 38p respectively, while Barclays, which is highly exposed to Spain&#8217;s economy, dropped 4p to 259.3p.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-69e4a879c8bf3">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-69e4a879c8bf3',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
