Cowen braces nation for ‘3 years of pain’

TAXES will rise as living standards fall and public services suffer, Brian Cowen warned in his first key note address to the Fianna Fáil ard fheis as Taoiseach.

In a sombre appeal for national unity, Mr Cowen stressed the economic crisis would get worse during “three years of pain” before things get better.

Mr Cowen rounded on bankers, expressing “disgust” for their behaviour as he announced a shake-up of financial regulation.