Government undermined by report, says Bruton

BLAME for the banking crisis has been flung at Taoiseach Brian Cowen, by opposition parties who said the independent banking reports undermine the Government’s policy defences.

Fine Gael’s finance spokesman, Richard Bruton, said Mr Cowen’s time as finance minister heightened the boom when he should have been trying to avert a crisis.

He said the reports of the Central Bank governor, Patrick Honohan, and independent experts, Klaus Regling and Max Watson, showed the inadequacy of Government policy during the property bubble.