Higgins: Tapes 'highlight culture of greed'; Drumm believes he is a scapegoat
The Anglo tapes only highlight greedy attitudes at the root of Ireland’s failed economic model of the past, the President said.
The people of Ireland were shocked and dismayed that a culture of recklessness emerged in some of their institutions which was not in keeping with their core values, Michael D Higgins added.
It comes as the latest Anglo tapes released today cover the Government's decision to bail out the banks.
Independent.ie has exposed another phone call between former Anglo CEO David Drumm and Director of Treasury John Bowe.
The conversation was recorded on the 15th of December 2008 less than three months after the night of the banking guarantee, when politicians pledged billions to prevent the collapse of Anglo Irish Bank later that day – and possibly other banks later that week.
Drumm and Bowe can be heard discussing how more money will be needed to save Anglo than previously expected.
The President used a community garden party at his Dublin home to reinforce his views of the terrible damage inflicted on society by the self-interest of a speculative economy.
“This week, voices from the past have been heard which serve to highlight behaviours and attitudes at the very root of that failed economic model. They do not make for easy listening,” he said.
“But let us be certain of one thing: these are not the voices of the people of Ireland; the attitudes they reveal are not shared by the people of Ireland; the behaviours they reflect are not characteristic of the people of Ireland.
“The people of Ireland, who have borne the brunt of a financial crisis not of their making, are shocked and dismayed that a culture of greed and recklessness emerged in some of our institutions – a culture which was not in keeping with our core values as a nation.”
The former Labour Party minister and long-time activist said the Irish people, who are rightly recognised for their fortitude, work ethic and courage, will take the country out of this present crisis.
“The authentic voice, spirit and values of Ireland will be restored and will lead us to what is important – a real economy that provides sustainable employment for all and a just and ethical society that allows all its citizens to fully participate and achieve their life potential,” he said.
“Informed foreign opinion will recognise that the real story from Ireland is not the aberrant voices we heard this week but the heroism of its people who are determined, not only to get through this crisis, but to secure a future that is just, prosperous and sustainable.”
Meanwhile, Mr Drumm has used a rival Sunday paper to issue an apology.
Hw also said he feels he is being used as a scapegoat, and that other individuals and banks were also responsible for what happened to the Irish economy.
Today's Sunday Business Post carries the interview with Mr Drumm which was conducted by the journalist Neil O'Dowd.
