The Labour Party and the Social Democrats have both made good gains in the general election. But both are understood to be wary of becoming the junior member of a predominantly centre-right coalition – given the centre-left party which took that role the last time has suffered a near wipeout at the polls.

Ireland faces weeks of coalition talks before it gets a new government, as the country’s two major center-right parties work to form a stable administration. With all but a handful of seats filled in the 174-seat legislature on Monday after three days of counting election ballots,

Vote counting is underway in Ireland’s national election. An exit poll suggests the contest is a close-fought race among the country’s three largest political parties.

Fianna Fáil and Fine Gael have been rewarded by voters who believe they have managed the economy well. Buoyed by strong corporation tax receipts, Ireland is running a budget surplus of at least €23 billion (£19 billion). As a result, all parties have committed to substantial increases in public expenditure, both current and capital.

Ireland's two large centre-right parties looked set to be returned to power after an election on Friday, but will likely need at least one smaller partner to secure a majority, raising questions over the stability of the next government.

Ireland has proved a partial exception to the anti-incumbent mood in elections around the world. Fianna Fail and Fine Gael, which have dominated Irish politics for a century, remain in the driving seat, though their combined share of the vote has declined to just over 40%.

In an exception to the global anti-incumbent mood, outgoing governing parties Fianna Fail and Fine Gael took the two largest shares of the vote