Next Thursday is being suggested as the date for the opening of talks with Northern Ireland's political parties about the problem areas facing the power-sharing administration, RTÉ News understands.
Parliament Buildings at Stormont is the venue identified for the opening session of those discussions.
Northern Ireland Secretary of State Theresa Villiers is contacting the five parties about the proposal and the plan has the backing of the Irish Government, who are co-guarantors of the Good Friday Agreement.
Disagreement over the share-out of the reduced budget Northern Ireland receives from Westminster has caused difficulties within the Stormont administration for several months.
At the turn of the year, US diplomat Richard Haass failed to broker an all-party agreement about how to deal with flags, parades and the legacy of the past.
Recently DUP leader and Northern Ireland First Minister Peter Robinson described the Stormont system of government as "not fit for purpose".
It is understood the British and Irish governments share the view that any new political negotiations should have a Christmas deadline.
