Moody’s rates Irish banks as ‘junk’ | Irish News | IrishCentral
"The credit ratings agency Moody's yesterday cut its rating of four Irish banks to junk status, citing its concerns over the imminence of new funding which was due at the end of February."
Meanwhile, Iceland didn't bailout their banks, didn't burden their children with debt...and guess what? Their banking system is functioning quite well, thank you very much. What a surprise! People still wanted to save, borrow, and lend. Whoa! What a shock!