“One of the great pejorative terms that continue to be used is this thing of bailout which suggests that the country is in some way seeking not to meet its obligations, to meet its own debts,” Cowen said, rejecting the suggestion that Ireland will be unable to fund its obligation. “That is not the case.” He's got some meetings set up re: this whole budget thing, they'll sort it out, it'll be fine, so just, shhh, relax.
Cowen indicated he doesn’t expect a concrete agreement tomorrow night in Brussels, echoing comments by Luxembourg Prime Minister Jean-Claude Juncker. “There’ll be further discussions there and, I’m sure, there’ll be discussions thereafter as well,” Cowen said. Ireland is due to publish details of a four-year plan to reduce its budget deficit and its 2011 budget within the next month. Cowen said that the plans will help provide confidence in Ireland. It will “provide further evidence that the government and the Irish nation and the country is determined to work our way through these issues,” he said.
Cowen Says Ireland to Discuss Banks With EU Tomorrow [Bloomberg]