Minister for Finance Brian Lenihan has claimed he has the support of a "large number" of Fianna Fáil deputies in his bid for the leadership of the party.
Mr Lenihan described himself as the "strongest challenger" to former minister for foreign affairs Micheál Martin for the job and said he was confident from the indications of support he was getting that he could carry Wednesday's electoral contest.
Formally announcing his candidacy for the job in a Dublin hotel today, he said he was "more than up" to the demands of a gruelling general election campaign. Mr Lenihan, who has pancreatic cancer, said his tumour had reduced substantially and his energy levels were greatly restored since the start of last year.
"I am confident I have the energy and stamina to meet the physical and mental demands of the position of leader. I have recently been reassured by my medical advisers in that regard."
Mr Lenihan is being formally proposed by Wexford TD Sean Connick, who told today's press conference that the Minister was a "man of courage and steely determination".
Mr Lenihan acknowledged that Fianna Fáil had made mistakes in managing the country's affairs. "We must acknowledge those mistakes and all of us must take responsibility for them. I have done my level best over the last two and a half years to put matters back on track."
One the reasons why mistakes were made was because of the party's reluctance to face up to difficulties and an anxiety to please various sectoral interests, he said.
As leader of Fianna Fáil, he would work with like-minded parties on a radical transformation of the political system, he said. This would include a smaller Dáil, a smaller Seanad elected by the list system and a requirement that a minimum number of ministers be appointed from this reformed Seanad.
Mr Lenihan said he would also embark on a massive acceleration of public sector reform. He also wanted to release the energies of young Fianna Fáil backbenchers and assist in a "generation shift" in the party.
The central issue in any general election campaign would be the "economic narrative". Mr Lenihan said he didn't accept that he was a liability simply because he had taken decisions in the common good. The economy turned a corner economically in early 2010, has continued to stabilise since and was now on the road back to growth, he insisted.
He said it wasn't feasible or realistic to fast-track the Finance Bill through the Oireachtas this week.