FF collapse: Party faces loss of 40 seats
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FIANNA Fail has plunged to a record low level of support and is now just the third most popular party in the country, a new opinion poll reveals.
Support tumbled to an unprecedented 22pc as a dismayed public vented its anger over the economic meltdown.
The nightmare poll for Taoiseach Brian Cowen came at the end of another day of huge job losses and a deepening crisis in the banking sector.
At 22pc, Fianna Fail is five points down from the last comparable poll, putting Mr Cowen's party at the same level as Fine Gael when it was savaged in the 2002 general election.
If the new level of support was translated into a general election today, Fianna Fail would immediately lose about half the 78 seats it won in May 2007. It would be lucky to return with 40 TDs. And with just four months until the local and European elections, the party now lags 10pc behind its worst ever result. That was in the local elections of 2004.
Compounding the disaster for Fianna Fail is the fact that the poll, by TNS/mrbi in the Irish Times, was taken after following a relatively good week for the Taoiseach. There was a widespread perception of a "lift" in the public mood after his impassioned speech last Thursday.
The latest figures do not, however, take into account the controversy sparked on Wednesday by Finance Minister Brian Lenihan's admission he had not fully read a crucial report on the banking system.
Eamon Gilmore is the big winner in the poll with Labour's support rising by an impressive 10pc. And Mr Gilmore also extended his lead as the most-popular leader in the country.
Worryingly for Enda Kenny, Fine Gael fell two points to 32pc, despite Fianna Fail's drop in support. Mr Kenny's own popularity rating also dropped again. Green leader John Gormley saw his party support hold steady and his rating go up marginally.
But four out of five people are dissatisfied with the performance of the Government.
Dire
The poll represented a dire end to a terrible day for the Government and the economy. More than 1,000 jobs were cut at Dublin Airport, deflation hit the country for the first time in 50 years, and Ireland's prized AAA sovereignty rating was under renewed threat.
On a dark day for the economy:
- Aircraft maintenance firm SR Technics announced more than 1,100 jobs will be lost.
- Ryanair said it would slash 200 jobs at Dublin Airport.
- A further 500 workers were put on short-time at three separate companies.
- Moody's Investor Services named Ireland as "vulnerable" to lose its prized AAA-status.
- Deflation hit the price of goods and services for the first time since 1960.
- Bank of Ireland said its risky loans could almost double to €6bn by 2011.
- Shares in the banks plummeted, despite the €7bn recapitalisation of Anglo Irish Banks (AIB) and Bank of Ireland.
- Dublin Bus drivers backed industrial action by an overwhelming majority.
- And it emerged housing completions slumped 33pc last year as the market crashed.
Mr Cowen last quashed calls for Mr Lenihan to resign over his lack of knowledge of dubious loans between IL&P and Anglo by giving him his full backing.
"I think it's important to say Brian Lenihan enjoys my full confidence and the confidence of my government," he said.
Mr Kenny said the failure to read the report on Anglo Irish Bank was a "black mark" against him.
Mr Gilmore also said Mr Lenihan needed to consider his position.
Shares in the listed financial institutions all finished down yesterday in a subdued market reaction to the €7bn bailout.
- Fionnan Sheahan Political Editor
