Graphical glitches - Samsung SyncMaster 205BW

Recently my monitor has stared to have a mental breakdown.

There will be graphical glitches, red borders on white areas, symmetrical patterns of blue dots on black etc, this will also be paired with that the power button on the monitor stops working (nothing happens when it is pressed), the only way to 'solve' this problem so far is to cut the power to the monitor and then power it up straight after again. This will fix all the graphical glitches and the power button will also start working again.

Since the power-button stops working when this happens I really suspect that it is the monitor that is starting to breakdown but if anyone think it might be the graphic card I am using NVIDIA GeForce 9800 GT (driver version : 196.21).

Is there any possibility that I will be able to solve this problem in a more permanent manner or is it just to order a new monitor (any tips on a decent lowish priced display would be appreciated)?