Third Day Of Coalition Talks

Fine Gael and Labour are now into their third day of negotiations over forming a possible coalition at Government Buildings on Thursday.

It is believed the talks have been rocked by a briefing from the National Treasury Management Agency, which has offered a grim outlook for Ireland's economy. Both parties have said their approach to the economy is at the forefront of any possible deal.

Fine Gael’s finance spokesman Michael Noonan and Labour counterpart, Joan Burton, separately said the briefings had confirmed the depth of the crisis facing the country.

It's is believed that among other issues, the parties are divided over Fine Gael's intentions to immediately cut the deficit and Labour's priority to cut the bank's dependence on state support.

The revelations are expected to hinder the hoped the resolution of the talks by the weekend in order for both parties to take the deal to their parties at large over the weeked before the new Dáil meets for the first time next Wednesday.

Meanwhile, Sinn Féin TDs are also to meet at Leinster House to discuss the party’s priorities in the 31st Dáil.

The team, led by Gerry Adams TD, will take part in a photocall on the Plinth at Leinster House at 12noon from where they will also address the media.

The party won an unprecedented 14 seats at the election despite only achieving a 10% increase in vote.

The parties last declared TD, Brian Stanley, was elected in Laois-Offaly on the thirteenth count bringing the party's total number of elected TDs to 14.

Former West Belfast MP, Gerry Adams had already romped home - topping the poll in Louth after the party President gave up his British Westminster seat.

Mr Adams secured his seat in Louth on the first count with more than 15,000 votes in his first bid for election success in the Republic.

Another option for Fine Gael, if it cannot find common ground with the Labour Party, it could technically seek a coalition with Sinn Fein which would give the party a slim majority in the Dáil.

(DW/GK)