Irish PM faces party leadership crisis
After days of speculation about his position, Cowen announced on Sunday that he would stay on as leader of the ruling Fianna Fail party and challenged his critics to back him or sack him in a confidence vote.
Just hours later, Foreign Minister Micheal Martin, seen as one of his main challengers for the party leadership, said that he would vote against the prime minister in the secret ballot of the parliamentary party on Tuesday.
On a day of drama in Dublin, Martin also offered his resignation -- only to then agree to stay on at Cowen's request.
Cowen and his party's popularity have slumped after Dublin was forced to turn to the EU and IMF for a bailout worth tens of billions of euros (dollars) being hard hit in the financial crisis.
The crisis in Fianna Fail, the main party in Ireland's ruling coalition with the Greens, came to a head in recent days after revelations emerged in a new book about Cowen's links to a disgraced bank boss.
Martin on Sunday said that the "very survival of the party" was at stake, adding he had told the prime minister that Fianna Fail needed a new leader before a general election expected within months.
"Having talked to most members of the parliamentary party and many members of the party across the country I believe this is a widely held view," Martin said.
After consulting his party colleagues over several days, Cowen faced down his critics earlier on Sunday and insisted he would stay as leader of Fianna Fail.
"I believe this to be in the best interest of the stability of the government, the country and our party," he said.
Announcing Tuesday's confidence vote, he said issues surrounding his leadership should be "resolved immediately."
"By taking this initiative, I believe I am acting in the best interests of the party and its membership and I am confident of the outcome," he said.
Pressure increased dramatically on Cowen in recent days after it was revealed he had previously undisclosed contacts with Sean FitzPatrick, the bankrupt former boss of Anglo Irish Bank.
This revived suspicions that Fianna Fail was uncomfortably close to the people who played a large part in triggering Ireland's crippling financial crisis.
Cowen has strongly denied any suggestion of impropriety and rejected opposition accusations that he was an "economic traitor."
FitzPatrick, who was questioned by police last year, resigned as chairman of the lender in December 2008 when it was revealed he moved some 87 million euros in personal loans in and out of the bank to conceal them from the public.
Anglo, which had been Ireland's third biggest bank, was nationalised two years ago after heavy exposure to the property market and has come to symbolise the reckless lending that characterised the country's bubble years.
Opinion polls show Cowen's personal popularity rating and those of the coalition have slumped to record lows since Ireland had to seek an international bailout.
A recent survey by Red C showed Cowen had just a 10 percent popularity rating and that only 14 percent of voters would give a first preference vote to Fianna Fail at the upcoming general election.
Ireland was hard hit by the financial crisis, with its banking and property sectors hammered. Last month, the Irish parliament voted for a bailout worth 67 billion euros (90 billion dollars) from the EU and IMF.