Cowen takes a swipe at greed of banks

TAOISEACH Brian Cowen last night took a swipe at the banks the Government is rescuing, saying greed had contributed to their huge problems.

The Government stepped in not to protect the reputations of the institutions and individuals involved, but to ensure the economy kept functioning, he said.

“There have been those who have criticised our decisions. I understand that. But the intervention was absolutely necessary... It has to be done in order that we can have a functioning economy.”