The leadership of the PDs issued a statement tonight saying it will consult with the wider parliamentary party about staying in government with Fianna Fáil.
Leading figures in the Progressive Democrats attended a specially convened meeting this evening to discuss the Taoiseach's financial affairs.
The announcement of the meeting came at the end of the first week of campaigning in the General Election that has been marked by debate over Mr Ahern's personal affairs.
The statement also said that new information that had come to the party's atention was 'highly significant'.
Mr Ahern has said he will deal with the issues at the Mahon Tribunal.
He re-iterated that the Mahon Tribunal was not investigating his personal finances, and that it was only looking into whether or not he received money from Eoin O'Callaghan and if he did anything about the designation of the land in question.
Mr Ahern said emphatically that the answer was no.
When asked about Mr McDowell's comments that he needed to reflect on what has happened in the last few days, Mr Ahern said the Tánaiste 'needed to do what he needed to do'.
Responding to the latest events, Fine Gael leader Enda Kenny said that it was now clear that the only option for a stable government after the election was the Fine Gael and Labour 'Alliance for Change'.
Mr Kenny said he was determined to ensure in the coming election that people would have the opportunity to vote for that alternative.
