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Bailout
Political turmoil could delay Ireland's bailout funds
Reuters says a snap election would delay emergency funds to Ireland.
IRELAND’S POLITICAL UNCERTAINTY could cause delays in receiving emergency financial aid from the IMF and EU, according to Reuters.
If a snap election is called, the bailout package could be postponed until a new government is in place.
The government’s majority is under threat after a number of government TDs voiced their discontent and called for Cowen’s resignation.
Independent TDs Michael Lowry and Jackie Healy-Rae said they were unlikely to vote in favour of the Budget next month.
Fianna Fáil backbench TDs Chris Andrews, Noel O’Flynn and Sean Power have called on the Taoiseach to resign from office, and the Green Party called for a general election in January.
Cowen is holding an emergency meeting with his ministers this evening and is expected to make a public statement at 7pm.
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