Taoiseach Bertie Ahern told the Dáil today it is essential that the momentum from the St Andrews talks on Northern Ireland is maintained.
Mr Ahern told a special all-party debate "the opportunity is there for everybody to engage and to agree".
He said the overwhelming response from the parties was "positive" and that there is a "new impatience for progress".
He said: "I would strongly urge parties not to walk away at the first challenge.
Taoiseach Bertie Ahern
"Despite yesterday's setback, I hope that the new Programme for Government Committee will be able to convene without too much further delay."
Mr Ahern described the deal reached at St Andrews as "balanced and fair", and added that if implemented, "it will bring the peace process to a successful conclusion and assure a fair basis for government in Northern Ireland.
The Taoiseach also said an electoral endorsement of the agreement would be necessary in the New Year but a decision on its content has yet to be decided.
However, Mr Ahern also warned parties that should there be a failure to reach agreement by the November 24th deadline the British and Irish Governments would implement their joint strategy.
Fine Gael leader Enda Kenny said he welcomed the agreement reached by the Governments but he added that he was concerned at the "continuing marginalisation of the moderate parties from the negotiations".
Mr Kenny said "I believe that the pivotal role of the SDLP in courageously opening political dialogue with the republican movement must not be cast aside".
Labour leader Pat Rabbitte warned that side deals reached between the governments and patries could derail earlier agreements.
"It is worth remembering that the nature and extent of such side deal commitments have contributed to the derailment of earlier agreements," Mr Rabbitte said.
Meanwhile, the Tanaiste and Minister for Justice Michael McDowell added that there remains dissidents on both sides who believe they can "thwart the will of the vast majority through violence".
Mr McDowell assured the House that "no effort will be spared by the Garda Síochána, in co-operation with the PSNI, to deal firmly and effectively with their activities."
