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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap Irish senate passes bailout bill ahead of election AFP - Sunday, January 30 Send IM Story Print Irish senate passes bailout bill ahead of election DUBLIN (AFP) - – Ireland's upper house of parliament passed Saturday a key finance bill needed to secure the country's bailout package, paving the way for embattled Prime Minister Brian Cowen to call elections. The budget -- which hikes taxes and slashes spending as part of the price for the 67.5 billion euro ($91 billion) European Union-International Monetary Fund bailout -- had already passed the lower house of parliament on Thursday. "The finance bill now goes to the president for signing into law," a government spokesman said. Cowen, who quit as leader of his Fianna Fail party a week ago and was forced to fast-track the bill through parliament, has said he will ask President Mary McAleese to dissolve parliament on Tuesday and call a general election. The vote is expected on February 25. Two polls on Saturday showed Fianna Fail heading for the worst defeat in its history in the elections. Cowen's popularity has slumped since the government last November was forced to accept the EU-IMF bailout to stop the country going bankrupt. Ireland is the second eurozone nation after Greece to seek a rescue. He is leading a minority government after his ruling coalition fell apart earlier this month when the Green Party pulled out following a botched cabinet reshuffle attempt. The crisis forced Cowen to resign as Fianna Fail leader and abandon plans for a March 11 election. The opposition insisted that he push through the finance bill or face a no-confidence vote. Opposition leader Enda Kenny of the Fine Gael party told the European Union on Friday that he would renegotiate the bailout if, as expected, he becomes the new prime minister. Under the conditions of the package, Dublin agreed to bring in tax and cost-cutting measures totalling 15 billion euros over the next four years and to bring the deficit down below 3.0 percent of GDP. Recommend Send IM Story Print News Search Top Stories Gulf stock markets down on Egypt concerns Ivory Coast ballot recount 'grave injustice': Ban 'Milestone' WTO ruling due in EU-US Boeing battle Irish senate passes bailout bill ahead of election Saudi bourse plunges 6.43% on Egypt tensions More Top Stories » Related Full Coverage Financial falloutLatest news on global credit crunch. All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Charlie Sheen rushed to hospital after 'wild' party Flu epidemic shuts all Moscow schools Saudi bourse plunges 6.43% on Egypt tensions US growth hits highest level in five years France says troubled euro has 'turned the corner' More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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