![]() |
Last week, Moody's cut the Republic of Ireland's debt rating to Ba1, taking it below investment grade. |
The rationale was based on the assessment that there was a "growing possibility" that Ireland would require a second bail-out when the current programme ends in 2013. Ireland joins Greece and Portugal as the third eurozone economy with a credit rating below investment grade, marking continued debt problems across peripheral Europe. In contrast to Greece and Portugal, inspectors from the European Union, European Central Bank and International Monetary Fund praised the progress made by the Irish authorities in acting to close the budget deficit and bolster the banking system. However, Moody's evidently took a more cautious approach in the current uncertain environment. We remain very cautious, not just on the fixed income market in Portugal but across most of the countries on the southern periphery of Europe, with no exposure to Portugal, Greece or Ireland in our international, global or global aggregate bond strategies. Our view has not been changed by the release of the results of the latest "stress tests" of European banks by the European Banking Authority at close of business on Friday. Although only eight banks out of ninety participating failed the tests, the tests did not include an assessment of the impact of sovereign defaults - now widely expected in the case of Greece. In the absence of this, we do not believe the tests are credible and, as such, are unlikely to improve market confidence in the region's financial system.
Harjeet Heer |
|
|
|
Reinsurance Pricing | ||
London - £180,000 Per Annum |
Senior Pricing Associate - Corporate ... | ||
London / hybrid 2-3 dpw office-based - Negotiable |
Actuarial Reporting Manager | ||
South East / hybrid 3dpw office-based - Negotiable |
FTC: London Market Actuarial Associate | ||
London / hybrid 2 days p/w office-based - Negotiable |
BPA Consultant | ||
London / hybrid 2-3 dpw office-based - Negotiable |
GI Pricing Analyst - Fully Remote | ||
Fully remote - Negotiable |
Technical Pricing Manager | ||
Fully remote with the option to work out of an office in the South of England - Negotiable |
FTC: Technical Pricing Analyst - Remote | ||
Fully remote - Negotiable |
Investment & Pensions Consultant - Bi... | ||
South East / London / hybrid - Negotiable |
1st Investment DB Pensions Actuary in... | ||
UK Flex / hybrid 2 dpw office-based - Negotiable |
Risk Manager | ||
London - Negotiable |
FTC (9-12 months) Financial Risk Manager | ||
London / hybrid 2 days p/w office-based - Negotiable |
Actuarial and Investment Consultant | ||
Remote / 1 dpm office-based - Negotiable |
Senior DB Investment Consultant | ||
Remote / 1 dpm office-based - Negotiable |
Senior Technical BPA Analyst | ||
South East / hybrid 3dpw office-based - Negotiable |
Enterprise Risk Manager | ||
South East / hybrid 3dpw office-based - Negotiable |
Life Actuarial Analyst - Financial Re... | ||
South East / hybrid with 2 days p/w office-based - Negotiable |
STAR EXCLUSIVE: First PRT Actuary in ... | ||
Flex / hybrid - Negotiable |
First Actuary In - Capital | ||
London - Negotiable |
P&C Consulting Actuary | ||
London / hybrid - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.