The Minister for Communications has joked about the formation of an alternative Labour Party. Pat Rabbitte made the joke at the launch of 'The Lab' AIB's new digital bank premises at the Dundrum Shopping Centre in Dublin.

"When I was invited to launch 'The Lab', I thought it was an alternative Labour Party" joked Mr. Rabbitte.

He also went on to joke that the possible leader could have been the Fine Gael backbencher and former banker, Peter Matthews, who was at the launch in his constituency.

Earlier Minister Rabbitte also rejected the weekend calls from Sinn Féin leader Gerry Adams for Labour to leave the coalition, saying that "Mr Adams and Sinn Féin believes the worse the economic crisis gets, the better for Sinn Féin".

"That is about as constructive as anything else Mr Adams has suggested" he said.

Here you can watch Minister Rabbitte's response to the question after a little thought.