Leader of the Labour party, Eamon Gilmore, said he still holds aspirations to be Taoiseach.

The Tánaiste says he believes the leader of every political party aims to lead their party to an election victory.

He was speaking as Labour's TDs and Senators meet in Co Meath for the party's annual think-in.

When the question about the party's next election was put to him, the Tánaiste replied with a comparison to, and message for, for Fianna Fáil leader Micheál Martin.

"I think the leader of every political party [aims to win the general election] … I'm sure you'd ask the same question of Micheál Martin, and he will be going into the next election with fewer seats than the Labour party went into the last one."

Gilmore also said that he is against imposing any more austerity than strictly required by the EU.

He said the Troika's targets for the budget deficit can be met without a full €3.1bn euro in adjustments in next month's Budget.

"We've always been determined to meet our targets, get out of the programme, to do what is necessary - but not to do more than what is necessary," he said.