Sovereign debt crisis is the face of the deteriorating situation, the Government of Ireland troubled local 21 Cabinet held an emergency meeting to determine a 4-year fiscal reduction plan, in order to ensure international aid and eliminate the fear of the outside world against the euro, stabilize the financial markets.

Irish Prime Minister Brian Cowen spokesman said the Cabinet would discuss the talks 21 pm local time to complete the reduction of program development, and released on Tuesday.

Meanwhile, the international assistance to start the negotiations in Dublin, the European Union, the European Central Bank and the IMF in the tripartite negotiation process is expected to announce rescue package will take two weeks.

Barack Obama last Friday, the eve of NATO summit commitments with Portugal and throughout Europe to cooperate in efforts to solve financial problems. 20, according to Bloomberg reports, U.S. Treasury Secretary Timothy Geithner said the Irish Aid Programme will end this spring has been troubled since the debt crisis in Europe.

Four-year plan to save 15 billion euros

It is understood that the 21-day meeting, the Cabinet will sign a cost-cutting up to 160-page document and will be announced Tuesday, the EU’s assistance program later will also be announced.

The Government will announce the date of 4 years ahead of the financial plan is to show that it is derived from the government’s perspective, rather than being driven by the IMF or the European Commission. Cowen spokesman said the cabinet meeting on Sunday will not be referred to the relevant international assistance, but he also admitted that international assistance and financial planning are related.

The 4-year financial plan announced intention of the current account for 32% of GDP to 3% of the budget deficit. Under the plan, by 2014, the Irish government will save 15 billion euros.

European Financial Stability Fund, recently said CEO Klaus Regling, the European Union, the European Central Bank and the IMF11 18 Joint Group of Experts had been sent to the Irish capital Dublin, Ireland, to investigate more thoroughly the problems faced by the banking and real government situation and possible negotiations on the bailout plan, a process that takes about two weeks.

The scale of international assistance between 45 to 90 billion euros between the specific amount is to aid in the end depend on the Bank of Ireland or the entire public debt. The assistance will come from Ireland early this year set by the EU 750 billion euros rescue fund.

Previously, the face of troubled Irish banks, the Irish government has refused to EU aid, known as the “Celtic Tiger,” said the Irish are worried that once receiving assistance, sovereignty will be threatened until last Thursday, Central Bank of Ireland and the Minister of Finance for the first time admitted that the Irish need to save outside of bank battered by bad loans, the banking system.

But EU leaders, the most worried about is not to provide financial assistance, but because of Ireland’s financial crisis spread to other euro area countries with high debt, which most likely is Portugal. “The Wall Street Journal,” said EU leaders are convinced that if this could help resolve the crisis sweeping through Ireland, then the crisis would not spread to the euro-zone countries with weak strength.

But as EU leaders had set up relief fund faith as an attempt by the huge amount to attract investors, and allowed to see other members of the euro zone countries support, but the earlier crisis in Greece to the present crisis in Ireland, rescue and support is not all plain sailing.

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