Labour: Future generations will pay for Government failures

The Labour Party says Irish people will be paying for the Government's failure to properly regulate the financial sector for generations to come.

The comment was made today by the party's finance spokesperson following publication of Irish Nationwide's latest financial results, which show after-tax losses of almost €250m last year.

The building society also says it needs continued help from the Government to survive.

Labour's Joan Burton says the figures highlight the Government's abject failure in relation to controlling the activities of banks and developers.

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