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World watching as shambolic 'circus' unfolds

THE unedifying spectacle that is Irish politics has been described as a "circus" by some of the world's most influential newspapers.

Both the New York Times and the Washington Post both used the word 'circus' to describe Cowen and his shambolic government.

The criticism is most worrying and threatens investor confidence in the eurozone, commentators have said.

Within the last seven days, 2,500 publications across 72 countries have covered Ireland's political turmoil.

Almost 5,000 articles have been penned on Brian Cowen's leadership battle and the Greens' move to pull the plug over the last week.

From Al Jazeera to the Washington Post to the Times of India, the dramatic revelations have damaged Ireland's international reputation.

And investors are growing increasingly concerned that the budgetary measures won't be passed -- all eyes will be on the bond markets now.

The Financial Times signals that the Irish Government will be the first to fall as a result of the eurozone crisis -- caused by infighting and an incensed coalition party.

But it said that that the future is bleak for Fianna Fail and that the implosion could translate as "electoral annihilation."

The Guardian said that there is a fear that the delay in signing the Finance Bill will cause international bond markets to panic that Ireland is "reneging on its commitments to the IMF and the European Union to drive down its national deficit".

The Independent in the UK said that the public desire for an early election is "palpable".