Italy, Ireland And The Trouble With European Stimulus
Comparing Ireland's and Italy's economies tells you all there is to know about Europe's triumphs and failures toward recovery.By Bram Sable-Smith | December 6, 2014
Ratings agency S&P has downgraded Italy's credit rating to BBB-, putting it just one step above junk.
The very same day, the very same agency bumped Ireland's credit up to A — the second upgrade in six months.
Both countries were among the hardest hit during the global recession, and looking at how their economies have ended up in such different places, helps illustrate why Europe continues to struggle toward economic recovery.