Irish PM staring down the barrel

Ireland's Taoiseach (Prime Minister) Brian Cowen. Photo /AP

Irish Prime Minister Brian Cowen is clinging to power in Dublin on a temporary basis as Ireland adjusts to this week's huge changes to its political and economic landscapes.

The next phase in a fast-moving political scene will come with the publication of a government blueprint to cut 12.7 billion pounds over the next four years.

The plan is assumed to have the broad approval of the team from the EU, ECB and the IMF officials, which were drafted into Dublin last week in a financial rescue operation that deepened Ireland's already long-running political crisis.

It is also thought that the package will be reluctantly taken on board by Ireland's major political parties, who have accepted that radical steps are needed to reduce the country's very large deficit.

Monday's feverish political activity, during which the embattled Mr Cowen was obliged to promise a general election in the new year, was followed by a day of intensive calculations within the political parties.

His timetable is to win acceptance for the blueprint and then to pass a Budget containing six billion euros' worth of cuts on 7 December. He may be able to do so, though success will depend on a complex interplay of political considerations.

The message from the IMF and others was that speed and stability are highly desirable, but Mr Cowen is now regarded as a lame-duck premier who is described by some as a mere caretaker Prime Minister.

Several members of his Fianna Fail party have said he should resign, but yesterday most of his backbenchers seemed to agree that he should stay on until after the Budget.

Ladbrokes bookmakers regard Mr Cowen personally as a goner, but they seem to believe he can get his austerity plan and Budget through before his departure from power.

- INDEPENDENT