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Irish Politicians Start Coalition Dance as Moody's Watches on

  • Ireland's election produces no clear winner as Labour crumbles
  • PM Kenny may seek to form nation's first-ever grand coalition
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Political Change in Ireland Amid Recovering Economy

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Ireland’s biggest political parties need to drop their “immovable positions” to create a stable government, the nation’s foreign minister urged, as Moody’s Investors Service warned it’s watching political developments closely after a deadlocked election.

Fine Gael and Fianna Fail, whose founders fought each other in a civil war that raged after the 1916 uprising, won about 50 percent of votes in a Feb. 26 general election. With the ruling coalition losing its majority and no clear constellation of allies gaining enough support to govern, a first-ever grand coalition between the two former enemies looks like the only viable option for a stable government.