The countdown to the general election has begun with Taoiseach Enda Kenny declaring he has decided on the date.

The growing prospect of a legal challenge to the banking inquiry report prompted speculation in Fine Gael circles on Monday night that Mr Kenny may even go to the country sooner than the anticipated date of late February.

“I have already said the election will be held in early spring and I am sticking with that. I have a date in my head, yes. I will share that with you and everyone else when I go to Áras an Uachtaráin,” he told reporters on Monday at the launch of the Fine Gael digital advertising campaign.

Asked if he would make the announcement in the Dáil, Mr Kenny said: “I will make it in a very public fashion.”

The advertising campaign launch was just one of two pre-election publicity events Mr Kenny took part in on Monday, the other being the final progress report on the programme for government.

At that launch, Tánaiste Joan Burton said the election would be a key event for the country with the people facing a choice between stability and potential chaos. She said the two Opposition parties of Fianna Fáil and Sinn Féin did not want to be in government.

“They have no interest in, or intention of, being in government. They are two parties auditioning to beat each other so that they can lead the opposition. In doing so, they are putting party posturing ahead of the national interest. Nobody can accuse Labour of doing that,” said Ms Burton.

Legal threats

Mr Ronan and Mr O’Flynn urged the inquiry to reconsider the amendments they proposed and warned they would take legal action if their requests were not re-examined.

The inquiry is now to hold an emergency meeting on Wednesday to discuss the correspondence. The two developers had claimed the National Asset Management Agency’s evidence was accepted by the inquiry without question.

Any legal action would scupper the publication of its final report and may have consequences for the timing of the general election.