Irish Prime Minister Brian Cowen has announced that he will stay on as leader of the governing Fianna Fail party despite pressure to resign over the financial crisis. Mr. Cowen said his resignation would not be in the country’s best interests. However, he said that a confidence motion on his leadership would be put to his party tomorrow.

Meanwhile, Irish Foreign Minister Michael Martin has tendered his resignation and said he will vote against Prime Minister Brian Cowen in the vote of confidence. He said, he believed a new leader is needed before a general election.