(DUBLIN) - Irish Prime Minister Brian Cowen will meet with French President Nicolas Sarkozy in Paris on Wednesday for talks on a way out of the crisis sparked by Ireland's rejection of the EU's reform treaty.

The two leaders will also discuss the chaos in the financial markets, the Irish government said, the day after Dublin stepped in to protect its banking sector by announcing a guarantee on all deposits.

Ireland is the only European Union state to hold a referendum on the Lisbon Treaty, which is aimed at streamlining the 27-nation bloc and has to be ratified by all member countries.

When Irish voters rejected the treaty by a 53.4 percent vote in June, the reform process was dealt a stunning blow.

Wednesday's meeting "follows on from President Sarkozy's visit to Dublin in July when the two leaders agreed to meet again in advance of this month's European Council meeting" of EU leaders, the Irish government said.

"Discussions will focus on the Lisbon Treaty in the aftermath of Irish referendum and the current turmoil in financial markets will also feature."

Sarkozy, whose country holds the EU's rotating six-month presidency, said in July he would not force Ireland to vote on the treaty again but insisted some kind of solution must be found before European parliamentary elections in June.

Irish Foreign Minister Micheal Martin and his French counterpart Bernard Kouchner are also expected to attend the talks in Paris.

The Irish government and main opposition parties who backed a "yes" vote in June's referendum are mulling possible options on the future of the treaty.

Research commissioned by the government last month showed lack of information was the main reason behind voters' opposition.

Martin said the research also cited concerns over military neutrality, tax and abortion laws and Ireland's retention of an EU commissioner in Brussels.

The Lisbon Treaty, drawn up to replace a failed constitution, would introduce an EU president and new foreign policy supremo and cut the number of national vetoes in EU voting.

The measures are designed to streamline the creaking institutions of the European Union, which is currently operating under rules designed before its 2004 eastward expansion to include 10 mainly ex-Communist nations.

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