Labour leader Eamon Gilmore has said there is 'no way' that Labour will share power with Fianna Fáil after the next election.
Speaking at the meeting of the parliamentary party in Waterford, he said that the people are demanding an election and that his party is ready for one.
Mr Gilmore said his party would use the meeting of the parliamentary party to finalise its policy plans for such an election.
The Labour leader also said that his party will not back the NAMA legislation.
Eamon Gilmore said that a temporary nationalisation of the two main banks is still the best option.
He said a close look at the language of the European Central Bank showed that they were not giving a ringing endorsement to NAMA.
The Labour party will also use this two-day event to set out its main policy priorities ahead of the new Dáil session.
They are centred on getting people back to work by taking an innovative approach to job creation.
The party is talking about a State Investment bank to help build essential infrastructure, and which would also provide venture capital for new industries.
The party wants to change the tax system to support innovation and to provide increased training for those out of work.
In Education, the party is aiming to eradicating illiteracy.
While in Health the Party Leader said the objective is to ensure everyone is treated in a clean, safe hospital regardless of their circumstances.
Looking at his party's strong showing in recent opinion polls, Mr Gilmore was asked if there was any possibility of Labour leading a Government with Fianna Fáil after the next election.
He said it was Labour's intention to put FF out of Government.
Asking if he was categorically ruling out any possibility of sharing power with FF next time, he answered that there were no plans to do so.
Arriving at the meeting, he said the priority is not just about economics but rather about building a new fairer society.
He added that the Government cannot chart a way forward because it is constantly having to cover its tracks.
