‘I prefer to let history in time to judge on the issues’

Brian Cowen has broken his silence to offer his thoughts on the economic crash that toppled his government. The following is an edited extract of the speech he gave at Georgetown University in Washington DC, entitled ‘Some Reflections from Ireland on the Road Thus Far’

Economic developments and policies in the run up to the crisis:

The recession had a devastating effect on Ireland’s public finances. Economists today say that budgetary policy in the years preceding the crisis was not sufficiently counter-cyclical.