February 26, 2011 7:51 PM

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Ruling party suffers huge defeat in Ireland polls

Ireland's ruling Fianna Fail party suffered a crushing defeat in the general election and the opposition Fine Gael party is set to lead the next government. According to an exit poll, Fine Gael, led by former teacher Enda Kenny won 36.1 percent of the vote in Friday's election, but not enough for a parliamentary majority. By contrast the Fianna Fail party of Prime Minister Brian Cowen, is on course for its worst ever general election result with 15.1 percent. The Labour party was on 20.5 percent, if confirmed by the results expected later today. Kenny, who is almost certain to become the new prime minister, has vowed to try to re-negotiate the terms of an 85-billion-euro European Union and International Monetary Fund bailout. Ireland was forced to accept the bailout in November after a debt crisis centred on the eurozone country's banks threatened to spiral out of control.

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