ULSTER UNIONIST PARTY
Deputy leader Mr John Taylor gave a cautious welcome to the decision saying his party had not been consulted.
"It was a decision of the Secretary of State. We are waiting to see he feels more weeks will help," Mr Taylor said, adding that "we have to acknowledge that the IRA have moved".
SDLP
Former First Minister Mr Seamus Mallon described the decision as highly regrettable. "Political stability cannot be achieved by stop-go arrangements or against the background of continuing uncertainty," he said.
SINN FÉIN
Mr Gerry Adams claimed the Prime Minister had assured him during talks last month at Weston Park that the Assembly would not be suspended. He alleged Mr Blair took the decision to suspend.
"There has been a deal done, an understanding reached and once again the British Government has acquiesced. I don't buy that this was a decision taken by Dr Reid."
DUP
Mr Peter Robinson accused Dr Reid of "wantonly abusing" the law. The East Belfast MP said: "The review he is holding is not a serious attempt to resolve issues but rather a cynical device to deny the electorate the opportunity to have its say as Parliament had decided they should."
ALLIANCE PARTY
Mr Seán Neeson said suspension was the best option available but branded it a damning indictment of the pro-Agreement parties' failure to implement the three-year-old accord.
Urging all sides to use the coming weeks for serious reflection, the East Antrim MLA said: "I am convinced if the parties can establish the necessary trust, and show sufficient will then we can properly implement the Agreement, and then begin to build a shared, non-sectarian Northern Ireland."
PA