THE TAOISEACH has said the problem with Ireland’s economy was that “people went mad borrowing” in a system that spawned greed, went out of control and crashed.
Speaking during a discussion on rebuilding Europe at the World Economic Forum in Davos, Switzerland, Enda Kenny said: “The extent of personal credit, personal wealth created on credit, was done between people and banks – a system that spawned greed to a point where it just went out of control completely with a spectacular crash.”
Fianna Fáil TD Niall Collins said there was a “stark contrast” between the Taoiseach’s comments yesterday and those in his address to the nation last month, “when he told the public that ‘it’s not your fault’ for the crisis”.
When asked about Mr Kenny’s comments last night, Minister for Finance Michael Noonan said: “I didn’t hear his comment. I’m not going to comment on something I didn’t hear.” After a recording of some of Mr Kenny’s comments was played for him, he said: “I’m not going to comment. Ministers don’t go around the place commenting on the Taoiseach’s remarks.”
Yesterday: Enda At Davos: The Digital Hub Taoiseach