Rabbitte urges Sinn Féin to cut IRA ties
In the wake of police raids, arrests and cash seizures to crack the massive fraud scam, Mr Rabbitte said the Sinn Féin leadership had been given a wake-up call to sever their ties with the IRA.
"No, there is no immediate prospect (of doing business with Sinn Féin) that I can see," he said.
Mr Rabbitte said the scale of the money laundering operation should force Gerry Adams and Martin McGuinness to distance themselves from the IRA once and for all.
"If that doesn't bring members of Sinn Féin to their senses and realise the nature of the organisation that they are members of then nothing will," he said.
Mr Rabbitte said the only option for the republican movement was to stand down the IRA and discharge their obligations under the Good Friday Agreement.
He said republicans would be left facing a public test of their bona fides and commitment to democracy.
Further pressure will fall on the republican movement today when Northern Secretary Paul Murphy will give the British Government's response to the International Monitoring Commission's report on the Northern Bank raid to MPs, Downing Street said.
Mr Blair's official spokesman said: "The time has now come for a choice to be made either to be involved in politics, or criminality and paramilitary activity. You can't be involved in both."
Asked whether the British Government shared the view that Mr McGuinness and Mr Adams were members of the IRA army council, the spokesman replied: "What we have consistently said is that we believe the IRA and Sinn Fein are inextricably linked and that clearly has implications at leadership level as well."
Asked whether he thought Sinn Fein was committed to the democratic path, the spokesman replied: "We hope that they are and it's only if they are that there's any possibility of a deal involving republicans.
"There has to be a clear choice made between the paramilitary past and the criminal past and the democratic future.
"What we have always said is we will help republicans make that transition. The period of transition is over the time for the choice is now."