The Republic’s last Fianna Fail government caused the country’s biggest catastrophe since the Famine, Finance Minister Michael Noonan has claimed.
Mr Noonan blamed Brian Cowan’s administration for ignoring advice which could have averted today’s economic crisis, as he faced an extra €7m bill to pay for expert staff and consultants for his department.
Rejecting criticism from the under-fire party’s finance spokesman Michael McGrath, Mr Noonan told the Dail’s Finance Committee: “I don’t want to go back to the past but the Fianna Fail/Green government gave us the biggest catastrophe since the Famine. If anyone thinks we can just get out of that easily with the same resources that’s just not possible.”
Mr Noonon pointed to the Nyberg report on the financial collapse which made clear that Mr Cowan, who was finance minister before becoming Taoiseach, had ignored warnings from some advisers who had spotted that the economy was overheating.