Members will this morning conduct the election of the chairs and vice-chairs of the committees which will monitor the Government Departments and the First Ministers Office.

The election will again be conducted under the D'Hondt system and MLAs may then conduct their first debate.

The business committee of the Assembly met yesterday to discuss the items for the next two weeks, with water charges and education expected to be high on the list.

However, last night it remained unclear when the first meeting of the Executive will take place.

Initially it had been expected this Thursday but senior sources indicated it could be next week.

Given a fair wind, and if the Executive parties can make sufficient progress in a relatively short time, Northern Ireland will no longer be an international - or even national - story.

Many of the correspondents from around the world who gathered at the new corridors of power conceded that they may have made their last trip here.

And many of the parties - not least the DUP and Sinn Fein - will be sanguine enough if Northern Ireland now becomes only regional news.

New First Minister Ian Paisley still felt justified, however, in explaining his decision to go into government with former foes.

"In politics as in life, it is a truism that no one can ever have 100% of what they desire. They must make a verdict when they believe they have achieved enough to move things forward.

The DUP leader said Sinn Fein's acceptance of the rule of law at its ard fheis three months ago had met that test.

"Support for all the institutions of policing has been a critical test that today has been met and pledged, word and deed," he said.

"Recognising the significance of that change from a community that for decades demonstrated hostility for policing has been critical in turning the corner."

Leaders' historic words as Ulster embarks on road to lasting peace

Ian Paisley

In his inaugural speech as Northern Ireland First Minister, Ian Paisley said he believed hate will no longer prevail in the province. "Today, at long last, we are starting upon the road - I emphasise starting - which I believe will take us to lasting peace in our province... We are all aiming to build a Northern Ireland in which all can live together in peace, being equal under the law and equally subject to the law... I believe that Northern Ireland has come to a time of peace, a time when hate will no longer rule."

Martin McGuinness

Taking up his role as Northern Ireland's new Deputy First Minister, Martin McGuinness said he acknowledged the challenges the new Assembly would face. " As joint heads of the Executive, the First Minister and I pledge to do all in our power to ensure it makes a real difference to the lives of all our people... We know that this will not be easy and the road we are embarking on will have many twists and turns... Ian Paisley, I want to wish you all the best as we step forward towards the greatest yet most exciting challenge of our lives."

Tony Blair

Basking in what could well be his greatest political triumph, Prime Minister Tony Blair said he hoped Northern Ireland would inspire conflict resolution elsewhere. "Northern Ireland was synonymous with conflict," he said. "The troubles (were) not so much a dispute as a fact of life ... People felt it could not be done ... Yet in the end it was done and this holds a lesson for conflict everywhere - to define the right political framework since only through politics can come peace that lasts."

Bertie Ahern

During his address in the Great Hall at Stormont, Taoiseach Bertie Ahern paid tribute to those who played a vital part in the process. He also thanked US political supporters - like Senator Ted Kennedy, who attended yesterday's ceremony - and lauded the Northern Ireland peace process as a successful model. "It shows that the visions and conflicts and all these problems can actually be resolved, so it is a great day, not just for the island of Ireland, it is great day for people who believe that peaceful resolutions of age-old conflicts can be resolved."