Lenihan says there's 'denial' over economy

Minister for Finance Brian Lenihan said there is a “great deal of denial” among people about the economic situation.

He was speaking at an Intertrade Ireland economic conference in Dublin today.

Mr Lenihan said banks must return to a conservative traditional approach and said the Government had to prevent banks from failing.

However, he added that the State cannot nationalise the remaining banks. The Government had taken “decisive steps” to stablise the economy, Mr Lenihan said.

Bloomberg