The 32nd Dáil convenes today, an event that will see plenty of tradition, celebration and pomp but little in the way of power being passed on or retained.

Today will be the proper manifestation of the political stalemate that resulted from the 2016 general election. Returning TDs will cast their eyes around the chamber to take in the changed circumstances facing the body politic.

Old hands who have been here on numerous occasions say it is at this moment that the election results become very real. The two main parties, Fianna Fáil and Fine Gael, will once again face each other across the House as near-equals.

Sinn Féin will assume the third-party position on the side of the Dáil's horseshoe from where Labour leaders Dick Spring and Eamon Gilmore used to rail against incumbent governments.

Labour will take a small pocket of seats on the other side of the horseshoe.

Elsewhere, Pat Leahy outlines how the day will pan out.

The only definitive result today will come with the election of a ceann comhairle. Enda Kenny, Michéal Martin, Gerry Adams and Richard Boyd-Barrett will put their names forward for the position of taoiseach, and all will be defeated.

The President will ask Mr Kenny to stay on in a caretaker capacity, and moves on government formation will then take on additional urgency and seriousness.

Fine Gael's overtures towards Fianna Fáil this week on a grand coalition have been largely met with a cool response from TDs in both parties, which is reflected in our lead story this morning.

Some elements of the Fine Gael offer - such as a rotating taoiseach - are not sitting well with some of the party's Ministers and aspirant future leaders, notably Simon Coveney and Leo Varadkar.

Fianna Fáil continues to insist it will not enter coalition with Fine Gael, and yours truly has analysis of Michéal Martin's position here.

Fianna Fáil’s TDs say they are serious about reforming the Dáil and politics generally to allow a new government conduct its business on a more consensual basis. They also insist they are “deadly serious” about attempting to form a minority government of their own.

Almost every party and grouping has a motion before the Dáil today calling for some class of reform, and we will likely see a process initiated to explore options on changing the way political business is conducted.

Once the day’s formalities are done, however, the focus switches to when and on what basis Enda Kenny and Michéal Martin will sit down with each other.

What was it those old adverts said? Oh, yes: “It’s good to talk.”