The minor political parties signed up to the Belfast Agreement have broadly welcomed the joint declaration made by the two governments last night, while the Ulster Democratic Party, not represented in the Assembly, said it would be considering the proposals.
The leader of the Alliance party, Mr Sean Neeson, expressed his support for the Way Forward document issued by the governments last night, as the best opportunity to achieve full and verifiable decommissioning and an executive in the North.
"I firmly believe that the joint statement by the two governments today is the best opportunity that we've had, and will have, for the full implementation of the Good Friday agreement," he said.
"I believe this provides the opportunity for all the pro-agreement parties to work collectively to ensure that the peace and the government that the people of Northern Ireland are craving for will be delivered sooner rather than later," Mr Neeson said.
"Alliance believes that all the pro-agreement parties should move quickly to take collective ownership of this document. To do otherwise would be to miss a historic opportunity."
The Women's Coalition also stressed that the parties needed to be "champions" of the document. "Once again in Northern Ireland we have interrupted the culture of failure. That's the message that needs to go out tonight - no more failure in this country," Ms Monica McWilliams said. "Now is not the time to create divisions, we need champions for this joint declaration."
She remembered those who died in the Troubles and stressed: "We must build our hopes. For too long we have concentrated on our fears. I hope that within a month all of the pieces will be finally put together and we can say goodbye to this conflict for ever."
Mr David Ervine of the Progressive Unionist Party (PUP), which is linked to the UVF and Red Hand Commando, was critical of the "cul-de-sac" politicians who had prevented a deal being done.
"Now is a defining moment for the people of Northern Ireland and the question has to be, are the representatives of the people of Northern Ireland ready for peace? Let's hope when the answers are given there will be a resounding Yes."
According to Mr Ervine the "euphoria" that followed the signing of the Belfast Agreement was no longer enough. "We tried euphoria . . . Euphoria alone does not work."
The leader of the Ulster Democratic Party (UDP), Mr Gary McMichael, which is associated with the UDA-UFF, said the problems currently facing the pro-agreement parties seemed intractable.
"Whether we have been able, or whether we have a formula which can overcome those very serious and complex difficulties remains to be seen. That will depend upon the reaction over the course of the days from the various political parties."
He highlighted the fact that this week's intensive negotiations were committed to finding a full resolution to the outstanding issues. "All I'll say is that the Ulster Democratic Party will be actively debating and considering the contents of these proposals and we hope that in time what we will see is that we can find agreement among all of the parties on the way forward."
However, Mr McMichael said that despite the fact that his party was not represented in the Assembly "the success of the institutions and the success of the Good Friday agreement are as important to us today as they were when we created that agreement over a year ago".