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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/ireland-outlining-drastic-cuts-plan.jpg"><img class="alignnone size-full" title="Brian Cowen has defied calls to quit over the economic crisis (AP)" src="http://londonglossy.com/wp-content/uploads/2010/11/min-ireland-outlining-drastic-cuts-plan.jpg" alt="Brian Cowen has defied calls to quit over the economic crisis (AP)"/></a></p>
<p>The Irish government is to publish a 15 billion euro (£12.7 billion) plan for drastic savings as it battles economic ruin.</p>
<p>Significant tax hikes, new levies in property and water and cuts to the dole and minimum wage are expected in the 150-page four-year budget road map.</p>
<p>Prime minister Brian Cowen has called for solidarity across the political system in Dublin, while social justice campaigners demanded the poorest were spared.</p>
<p>Opposition parties were warned Ireland&#8217;s bail-out was only secure if swingeing cuts and tax rises and a more detailed six billion-euro (£5.1 billion) budget on December 7, were passed.</p>
<p>The final loans figure has not been confirmed with formal negotiations with the International Monetary Fund (IMF) and Europe only a few days old. Estimated figures range from 85-95 billion euro (£72-80 billion) but banking and economic experts across Ireland and Europe have raised concerns in the past 24 hours that might not solve the problem.</p>
<p>They are also worries in some circles of a sustained bank-run by fearful customers. Irish banks have seen 23 billion euro (£19 billion) in deposits leave the country this year.</p>
<p>Guaranteeing Ireland&#8217;s solvency is also seen by EU governments, and officials in Dublin, London, Brussels and Frankfurt, as essential to protecting the euro as a currency. &#8220;Contagion&#8221; has been the fear across Europe with worries the Irish financial and economic chaos will spill over to troubled nations like Portugal, Spain and Italy.</p>
<p>Mr Cowen has denied he is clinging to power as the Opposition demanded he bring forward next month&#8217;s Budget. He also dismissed calls to revise a timetable to strike a deal on the bail-out. &#8220;My sole motivation is to ensure that a four-year plan is published&#8230; and that a budget is passed by this House,&#8221; Mr Cowen told the Dail parliament.</p>
<p>He also spent several hours with his Fianna Fail parliamentary party on Tuesday night where a number of TDs questioned his leadership. He told colleagues he felt he had a job to do and was focused on what needed to be done.</p>
<p>The government&#8217;s chief whip John Curran denied rumours of a heave and claimed the overwhelming number of people who spoke on the leadership issue were &#8220;absolutely supportive&#8221; of Mr Cowen. Mr Curran said he believed the government had the numbers to get the December 7 Budget through the Dail.</p>
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