Fine Gael and Fianna Fáil are set to agree a framework document on a grand coalition between the two parties today.

It will spell out what they would hope to achieve in an historic agreement between the two old political rivals.

It is being dubbed by some around Leinster House as the new Good Friday Agreement.

Teams from the two parties will today formally agree a document describing what they want to achieve in government together - the first time such a coalition would happen.

The document likely to be approved today has been described as radical by some in the two parties and will include a guide for moving towards a single tier health service, more state intervention when it comes to childcare and an expansive housing programme.

However, it is likely to be light on specific policies, instead it will effectively be a manifesto to pitch to smaller parties and independents.

So far the Greens, Labour and the Social Democrats have shown little interest in joining a coalition led by the two civil war parties for a variety of reasons.

Winning the support of some of those parties and independents will be crucial in deciding whether this is another significant Good Friday Agreement or whether we could be going back to the polls in a few months' time.