Cowen blames global factors for slump

TAOISEACH Brian Cowen has once again blamed international factors rather than the Government’s own policies for the economic slump.

Ireland was officially declared in recession on Thursday and the opposition has criticised Mr Cowen for not doing enough over his four-year tenure as Finance Minister to prepare for the downturn.

But Mr Cowen has repeatedly pointed to the turmoil in the global markets as the main reason for Ireland’s economic woes.