Irish PM Cowen has written to leaders of the opposition, inviting them to talks on establishing a consensus on the economy, Reuters reports.
Cowen has a razor thin coalition majority of just 2 votes. Should the gambit fail, Cowen’s government could fall. Normally, a new Irish government would not raise eyebrows in the global markets but given the banking crisis that is consuming the Irish economy, it could have much more impact at this particular juncture.
Ireland has taken some very bitter medicine in order to solve the banking crisis but has suffered a deep recession in the wake of the collapse of the property bubble.
