Lenihan: Challenge to market model of capitalism

FINANCE Minister Brian Lenihan told politicians from 30 countries the “market model of capitalism is now being challenged” across the world.

The reality is that the global economy was now in the grip of “its most serious crisis since the greatest depression of 1929”.

Mr Lenihan’s unscripted comments formed the basis of his keynote address to the Organisation for Security and Co-operation in Europe Parliamentary Assembly Economic conference in Dublin attended by more than 100 politicians from 30 countries.