Taoiseach Brian Cowen has urged people to stop talking as if the economy is facing 'Armageddon'.
Mr Cowen said the fundamentals of the economy were far stronger than had been the case in previous decades, and what was needed now was calm consideration of what action should be taken.
He said Finance Minister Brian Lenihan would be announcing the Government's plan of action after next week's Cabinet meeting.
Meanwhile, the Dail is expected to debate the economy and issues relating to it for nine and a half hours next Wednesday and Thursday.
Fine Gael has proposed a range of measures to tackle the current economic problems. The party proposals include the cancellation of pay rises for ministers and senior civil servants, a reduction by at least three in the number of Junior Ministers and the release of €400m from what it calls the Government's failed decentralisation programme.
Fine Gael also proposes that every Government department secure 1% Budget savings each year to create a €2 billion strategic fund to finance priority issues next year.
