irishspirit
1st February 2011, 15:52
The Irish Prime Minister, Brian Cowen, has announced that parliament is being dissolved, to allow for the first election since the bail-out.
Mr Cowen, who is not standing for re-election, told the Dail he hoped to see the next parliament meeting on 9 March.
The forthcoming election, he said, would define the Irish Republic's future.
Mr Cowen agreed to the early vote after a series of political setbacks including a vote of confidence.
Under the Irish constitution, the president formally dissolves parliament.
Mr Cowen is due to meet President Mary McAleese later on Tuesday and the date of the election will be announced by Environment Minister Eamon O Cuiv, who is responsible for organising the ballot.
Mr O Cuiv said earlier that 25 February was the most likely date.
The Irish Republic was forced to accept an 85bn euro ($113bn; £72bn) bail-out, with an interest rate of 5.8%, from the EU and IMF in November last year.
Once known as the Celtic Tiger for its strong economic growth, the Republic had ridden high on a property bubble.
But when property prices crashed, the economy slumped and several banks were left needing huge state hand-outs.
Analysts expect Mr Cowen's Fianna Fail party to suffer a crushing defeat at the election, as voters blame them for mismanaging the economy.
Nineteen Fianna Fail members of the Dail (TDs) and four ministers are standing down from national politics on Tuesday
http://www.bbc.co.uk/news/world-europe-12330857?utm_source=twitterfeed&utm_medium=twitter
Mr Cowen, who is not standing for re-election, told the Dail he hoped to see the next parliament meeting on 9 March.
The forthcoming election, he said, would define the Irish Republic's future.
Mr Cowen agreed to the early vote after a series of political setbacks including a vote of confidence.
Under the Irish constitution, the president formally dissolves parliament.
Mr Cowen is due to meet President Mary McAleese later on Tuesday and the date of the election will be announced by Environment Minister Eamon O Cuiv, who is responsible for organising the ballot.
Mr O Cuiv said earlier that 25 February was the most likely date.
The Irish Republic was forced to accept an 85bn euro ($113bn; £72bn) bail-out, with an interest rate of 5.8%, from the EU and IMF in November last year.
Once known as the Celtic Tiger for its strong economic growth, the Republic had ridden high on a property bubble.
But when property prices crashed, the economy slumped and several banks were left needing huge state hand-outs.
Analysts expect Mr Cowen's Fianna Fail party to suffer a crushing defeat at the election, as voters blame them for mismanaging the economy.
Nineteen Fianna Fail members of the Dail (TDs) and four ministers are standing down from national politics on Tuesday
http://www.bbc.co.uk/news/world-europe-12330857?utm_source=twitterfeed&utm_medium=twitter