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Very worrying stop press news re Anglo Irish
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S&P Downgrade Irish Banks
THE damage to Ireland's international reputation was highlighted yesterday when rating agency Standard & Poor's (S&P) moved its risk assessment on the Irish banks up a notch and said the prospects for the national economy have dimmed.
S&P said it was moving its risk assessment of the Irish lenders from Group Two, the second strongest ranking, to Group Three, a level that already includes banks from troubled economies such as Portugal, Austria and Japan.
The agency blamed the move on the fallout from the nationalisation of Anglo Irish Bank as well as poor regulation of the sector. It said the change "principally reflects our changed view of industry risk in Ireland, in particular the reputational fallout from the events at Anglo Irish Bank and what we see as weakened investor confidence in the framework of bank regulation".
The agency also said that since December there has been a further weakening in the near and medium-term Irish economic prospects. However, it added that the shift to Group Three has no direct impact on the ratings of the Irish banks.
S&P said the reputation of Irish banking with the public and the investor community has suffered in recent months and that, in its view, the regulator has shown some reluctance to intervene, particularly in Anglo's case. It said the timing of the revelations is harmful to the strength of the banking system overall, coming at a point when investor confidence is already low.0 -
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It doesn't. It says part of the "Daily Mail, ... Group". Just like Girobank is part of the "Abbey, A&L, Bradford & Bingley, Cahoot Group" (aka Grupo Santander). Equally, that doesn't make Girobank part of Abbey.0
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baby_boomer wrote: »No. You've misread it or misunderstood it and selectively quoted it.0
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It's own webby says ' part of the Daily Mail...' You can't accept that?
Financial Mail is an separate venture. Its large team of reporters report only on Sunday. They are actually rivals to the daily splurge from the Daily Mail since a Daily Mail story during the week messes them up as it would spoil their scoop. There is also a distinctly different editorial line, eg on mutuals, which both support, but the Daily Mail has done uncritically. Financial Mail is also a [successful] campaigning publication which cannot be said of the Daily Mail.
I'm going to get bored with this thread PDQ & I suspect I'm not alone.
To reiterate - It's Associated Newspapers that is the "group" - not the Daily Mail. Perhaps they should teach the Associated Newspaper website people how to write better in order to avoid misunderstandings such as this one :rotfl:0 -
I've not … misunderstood
Yes you have.
Here's what you quoted from their website:Part of the Daily Mail, The Mail on Sunday, Evening Standard & Metro Media Group
© Associated Newspapers Limited 2009
The misunderstanding you have is that you've looked at the first bit of this ("part of the Daily Mail") and concluded that means it's part of the Daily Mail. It isn't.
Adding some quotation marks to what you quoted makes its intended meaning more clear:
Part of the "Daily Mail, The Mail on Sunday, Evening Standard & Metro Media" Group.
In other words, if the website had said:
Part of the Evening Standard, Metro Media, Daily Mail & The Mail on Sunday Group.
That would have meant exactly the same thing but presumably you wouldn't have read it as being part of the Daily Mail; you would have read it as being part of the Evening Standard.0 -
Yes you have.
Here's what you quoted from their website:
The misunderstanding you have is that you've looked at the first bit of this ("part of the Daily Mail") and concluded that means it's part of the Daily Mail. It isn't.
Adding some quotation marks to what you quoted makes its intended meaning more clear:
Part of the "Daily Mail, The Mail on Sunday, Evening Standard & Metro Media" Group.
In other words, if the website had said:
Part of the Evening Standard, Metro Media, Daily Mail & The Mail on Sunday Group.
That would have meant exactly the same thing but presumably you wouldn't have read it as being part of the Daily Mail; you would have read it as being part of the Evening Standard.
I have made no effort to interpret, thats what you are doing. I just cut and pasted what the site says. All the interpretation is from posters so arrogant they try to tell me what I have understood. My post was in response to a statement saying it was part of the Mail on Sunday - I didn't comment or quote or interpret - I just cut & pasted what their webby says, if thats not clear or correct I suggest you communicate your disagreement with them.0 -
baby_boomer wrote: »I'm going to get bored with this thread PDQ & I suspect I'm not alone.0
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Its you who have the misunderstanding. I didn't read ita s one thing or another. You set your arrogance aside & take the time to read the posts & reponses, particularly #507.
All you're doing here is proving that you haven't properly read what I wrote. I quoted what you wrote in #507, so I would have thought it obvious that I've read said post.
The point is that you think that post #507 proves that thisismoney.co.uk is part of the Daily Mail. It doesn't and I and others have attempted to explain to you why you are wrong. If you wish to continue being obtuse about it, sadly I can't stop you.0 -
Really pleased we've moved away from all the despondency re Anglo Irish.
It was getting quite unsettling for those of us with money deposited there. And melbury must be breathing a total sigh of relief.If you want to test the depth of the water .........don't use both feet !0
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