Martin: Cowen in for long haul

TAOISEACH Brian Cowen is “there for the long haul” and has been “very very strong” as leader, according to the man viewed as his most likely successor, Foreign Minister Micheál Martin.

The minister said Mr Cowen has had a more difficult time in office than any previous Taoiseach and that his “absolute focus and dedication” in dealing with the economy will be his ultimate legacy.

Speaking in Cork after returning from a five-day trip to the Middle East, Mr Martin said: “Almost every week since he has come to power, he’s made significant serious decisions that have had to be made.

“And I think he’s there for the long haul. He realises we’re in a very grave situation, as indeed is the entire world,” said Mr Martin.

“The issues are so grave that they require absolute focus and dedication and in the end of the day if you come through dealing with the issues that ultimately becomes the story, and will become the legacy of the Taoiseach because no-one has been at the helm in such difficult times before in my opinion,” he said.

Mr Martin was speaking as the Government finalised its recapitalisation plan for Bank of Ireland and Allied Irish Bank (AIB) which is expected to be announced shortly.

The banks will get an injection of €8 billion and in turn will have to free up lending for first-time buyers and sign a new code on reducing the seizing of homes from people who can’t pay their mortgages.

The Government was , meanwhile told it could have to answer to a European court over its failure to protect pension entitlements of workers at Waterford Wedgwood.

The European Commission said in response to a question from Labour MEP, Pronsias de Rossa, that it is investigating whether the Government is in breach of EU laws and said it “will not hesitate” to bring it before the European Court of Justice if this is the case.