The Football Association of Ireland (FAI) has cancelled a press conference due to take place in Dublin on Wednesday in order to "consider the current position" after Ireland suffered defeat against Austria on Tuesday.
Consecutive defeats to Group C rivals Sweden and Austria have impacted severely on Ireland's chances of reaching the World Cup, which is to be staged in Brazil in 2014, and the FAI admitted that qualification was now "highly unlikely".
"The recent results against Sweden and Austria were very disappointing for everyone involved in Irish football, the manager, the players and supporters," a statement from the association read.
"Our aim of qualification, although mathematically possible, is now highly unlikely even though the team will always do everything within their power to keep that hope alive.
"The FAI Board of Management will now consider the current position over the coming days. The post-match press conference which was due to take place this afternoon in Dublin has been cancelled."
The statement was released minutes after Giovanni Trapattoni conducted his post-match press conference in which the Italian indicated that he would like to remain as manager of the Boys in Green.
Following defeat to Austria, Ireland now lie fourth in Group C, behind Germany, Sweden and Austria.