A "flight of capital" from the State will occur if Fianna Fáil and the Progressive Democrats are not re-elected, Tánaiste and PD leader Michael McDowell has said.
Unveiling the party's latest general election candidates, Mr McDowell said there will be "economic consequences in the short, not just the medium or long term" from the choices made in the election.
"If we sleepwalk into a slump coalition in which Sinn Féin, Fine Gael, Labour and left-wing Independents have a majority of the seats in Dáil Éireann, then we will have a weak and fragmented government," he said.
"Almost inevitably, and sooner than most people consider likely, there would be an downturn in investor and consumer confidence and an economic downturn will begin.
"We can't assume that Ireland's success is taken for granted and that now is the time for a free vote just to spend it on peripheral issues to do with quality of life. This election is more important than any election for a long time.
"People worried about their children's job prospects should think long and hard about electing an inexperienced divided and mutually inconsistent group in Dáil Éireann," he added.
He was speaking at the campaign launch of Frank McNamara and Ben Doyle, who will both run in the five-seat Dublin South Central constituency.
Best known as the Late, Late Show's music director, Mr McNamara, who lives in Co Meath, said it was important Dublin South Central voters had the opportunity to vote for a Progressive Democrats candidate.
Mr Doyle contested the 2004 elections for the party in Ballyfermot, receiving 205 votes. He is now the party's local area representative for Ballyfermot, Bluebell, Inchicore and Chapelizod.
