POLITICAL REACTION:TAOISEACH BRIAN Cowen yesterday dismissed calls from Labour leader Eamon Gilmore for his resignation.
Speaking to reporters at the opening of Terminal 2 at Dublin airport, Mr Cowen also said measures safeguarding Ireland's 12.5 per cent corporation tax rate were "part of the Lisbon Treaty provisions" which are a matter of "national competence".
Mr Gilmore said the Government had "effectively put the country into receivership" on what he described as the "darkest day since the end of the Civil War".
He believed an immediate general election should be called to put a new government in place before Christmas to negotiate for Ireland with the IMF.
Mr Gilmore described the arrival on Thursday of the IMF for talks as the worst thing since the foundation of the State. "Fianna Fáil has brought the IMF into the country. They have effectively put the country into receivership."
His views were echoed by Fine Gael leader Enda Kenny, who said "the current Government, which has been grossly negligent in its mismanagement of the economy, has long since lost any shred of credibility". Speaking on Highland Radio in Donegal, Mr Kenny said "the people must be consulted in advance" of the critical decisions that "are now being taken which will define Ireland's future".
"The Government's appalling incompetence has resulted in the arrival of the IMF in this country and the potential sacrifice of our hard-fought economic sovereignty."
Fine Gael is to introduce a Private Members' debate in the Dáil next week on the retention of Ireland's corporation tax rate.
Dismissing calls for his resignation, Mr Cowen said it was "very important" to recognise the work the Government was doing in finalising the four-year plan and bringing forward the budget for December 7th.
"You would expect me as leader of the Government to conduct these discussions in a way for which the best outcome for Ireland can be achieved," he said.
Asked whether he should not be at the talks himself, Mr Cowen said he was being kept fully informed. He said "the Government has a job to do here. We have a four-year plan that we are finalising which we are required to do.
"We believe we have a majority for that budget and we have a job to do in relation to ensuring that the present issues affecting the euro, and as it is affecting Ireland, are resolved.We are involved in constructive talks on that. That's the job that the Government has to do and that's what we will do."
Mr Cowen described the talks with IMF representatives as "going well in terms of being open and constructive".
Green Party leader John Gormley said his party had not spoken about the situation since last weekend, as he believed it was "the wise approach" not to make a statement until it was "absolutely clear" about the state of play.
"What I'm saying is the official line that was given to us, which is the one that was articulated, is that there were discussions taking place, but there were no negotiations. That in fact is the case."
Mr Gormley said it was "hard to keep up with" events. "But I believe, and I believe it sincerely, that we have to try as best we can, to let the Irish people know in very plain terms what is going on so that we can allay any fears and concerns."