Senior Sinn Féin members are meeting in Dundalk today to begin a review of whether they should continue in the current limited Assembly.
The party's chief negotiator Martin McGuinness said no progress was made over the past six weeks despite some meetings of the Assembly and the formation of the programme for government committee.
Ahead of the meeting of party officers in Dundalk , he said: "This week's sitting of the (Peter) Hain Assembly is coming to an end and the fact is that no progress has been made - something that is largely the responsibility of the two governments.
"We are more than willing to be involved in any genuine effort to restore the political institutions but we will not participate in a farce that is driving the political process into deeper crisis and making the public increasingly cynical," he added.
"The review will begin tomorrow morning and conclude at the end of the summer." The warning came as Taoiseach Bertie Ahern and Prime Minister Tony Blair prepare to travel to Belfast tomorrow for talks with the North's parties. The governments were hoping that the first six weeks of the recalled Assembly would help create the right mood for the formation of a power-sharing executive in the autumn if it was not possible to establish one for the summer marching season. However, a special Assembly committee set up by Northern Ireland Secretary Peter Hain to identify the issues before the establishment of a power-sharing government has seen regular clashes between the DUP and Sinn Fein.
The leaders have given the Assembly parties a deadline of November 24th for restoring power sharing.