Credit rating a blow to future.

IRELAND'S loss of the prized Triple A credit rating couldn't come at a worse time.

The drastic decision is a huge blow to the economy as it will increase the cost of borrowing for our banks and Government.

But the fault for this latest blow appears to lie firmly at the Government's door.

Rating agency S& P said the main reason for the downgrade was concerns it does not have a credible "fiscal strategy".

It has basically decided Cowen & Co are incapable of getting us out of this crisis.

This piles even more pressure on Brian Lenihan to deliver a Budget next month that can restore confidence not only in our country but also in the Government.

Our economy's survival is depending on it..