Fianna Fáil faces being destroyed as a result of any post-election agreement with Fine Gael, according to Minister for Public Expenditure Brendan Howlin.
With just three days until polling on February 26th, the final leaders' debate, between Taoiseach Enda Kenny, Fianna Fáil leader Micheál Martin, Labour Party leader Joan Burton and Sinn Féin leader Gerry Adams, takes place on RTE1 television at 9.30pm tonight.
With the Labour Party struggling in the polls it now appears unlikely that the current coalition can be returned, prompting renewed speculation about a possible Fianna Fáil and Fine Gael partnership.
Mr Howlin said on Tuesday that if the State’s two biggest parties for the last 60 years formed a government after the election it would be a “breach of faith” for the public.
“Both have said emphatically that they won’t join up to now. If Fianna Fáil go in as the junior party with Fine Gael, ultimately it is the end of Fianna Fáil.”
According to the latest Irish Times/Ipsos MRBI poll 24 per cent are in favour of Fine Gael's Mr Kenny as Taoiseach with precisely the same number going for Fianna Fáil leader Mr Martin.
In this poll Sinn Féin leader Gerry Adams was supported by 12 per cent, while 4 per cent preferred Labour leader Joan Burton.
This finding comes after a series of polls appears to show some form of partnership between Fine Gael or Fianna Fáil is one potential outcome from the election, based on the parties current strengths.
Mr Martin’s equal standing with the outgoing Taoiseach is a reflection of his success in the election campaign to date and particularly his performance in the television debates.
A group of business leaders have warned jobs would be lost if the general election results lead to political instability.
According to the Irish Independent on Wednesday group warned of the possibility of a hung Dáil and said Ireland needed a stable government capable of making the "right policy choices for the future".
They also warned against giving “great influence to populist left political parties and fringe elements that are anti-business and anti-job creation”.
Meanwhile, Mr Martin said under Fianna Fáil in Government there would be no amnesty for those who are currently refusing to pay their charges to Irish Water.
Mr Martin said that while Fianna Fail in Government would abolish Irish Water during its first year in power, the ending of the charges would only happen once the legislation to bring that about came into effect.
“We are talking about abolishing Irish Water and for the next five years no water charges”, Mr Martin told Newstalk radio.