By Marc Jones LONDON (Reuters) - Rating agencies are falling over each other to upgrade the euro zone's crisis countries, but with debt levels in most still rising and growth and reforms slow, the question is whether the new-found optimism has swung too far. Greece's rating was cut by a dozen notches as it went from being an A-grade sovereign to default in less than three years and Ireland was a top-rated AAA country just a year before it had to be bailed out by the EU and IMF. However, following the remarkable rally in euro zone financial markets over the last two years, the tide looks to have finally turned. Moody's has lifted Ireland's rating twice this year by a total of 3 notches, a hefty move for a country just out of an EU/IMF bailout program and with debt still at an all time high.
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