The Rev Ian Paisley has said the British government is seriously considering "parking" the talks process until September. However, the Northern Ireland Office last night rejected the DUP leader's claim.
Dr Paisley said he had information from "absolutely reliable sources" at Downing Street and Westminster that London felt it would have to suspend its efforts to break the deadlock over decommissioning.
As the marching season and the European elections approached, it would be a major blow to the British government if it had to put the process on hold, he said. Unionists would then have a great chance to voice their opposition to the Belfast Agreement.
Dr Paisley expressed confidence that the British government was "very near to being forced to make a decision to park the process". He added: "If they are going to park it, they cannot cherry-pick. The whole thing has failed and has to be stopped.
"They must recall the prisoners already released and stop the Parades Commission and Patten Commission on reform of policing." If the agreement was parked it would be a "victory for democracy and freedom" and a defeat of "deceit and lies".
However, an NIO spokesman said: "This is not true. We are not planning to park the process. No one is walking, everyone is talking and we will keep talking, however long it takes."
The Women's Coalition leader, Ms Monica McWilliams, said both governments had reassured her they had no intention of parking the process "not even for as much as a week".
An SDLP Assembly member, Mr Sean Farren, warned that parking the process would be dangerous.
"It would signal a lack of confidence which I think could have a very serious impact given what we know is before us politically, beginning with the European election campaign and the marching season," he said.
Meanwhile, the North's First Minister, Mr David Trimble, has said the Hillsborough Declaration is much more likely to break the deadlock in the peace process than the blueprint outlined by Mr John Hume.
He said the declaration, which proposes "putting some arms beyond use", had the potential to end the decommissioning impasse. Mr Hume suggested that all the parties including Sinn Fein could make a declaration that any party that abandons peaceful and democratic methods is expelling itself from the executive.
His proposals were welcomed for discussion by Sinn Fein. However, Mr Trimble said the SDLP leader's plan was "by itself unlikely to succeed". He said: "People need to focus on the proposals which were made at Hillsborough and work through them. I think the Hillsborough formula is the one."
He said the Belfast Agreement should not be parked over the summer and that the parties should keep talking. He said he had read with "interest and surprise" newspaper reports that he intended to meet the residents of the Garvaghy Road in an attempt to find a solution to Drumcree.
`'I've no immediate plans," he said when asked if he had decided to meet them.
Mr Trimble said he was solidly behind the UUP European election candidate, Mr Jim Nicholson, who earlier this year admitted having had an extramarital affair.
Mr Trimble said Mr Nicholson had experienced problems concerning his personal circumstances but he had apologised, and was still the most effective candidate for the June 10th poll.
Mr Gerry Adams described the UUP's rejection of Mr Hume's proposals as disappointing. He urged both governments to implement the Belfast Agreement and set up the executive.
Meanwhile, the Northern Secretary, Dr Mo Mowlam, met a delegation from the Alliance Party yesterday.
The party leader, Mr Sean Neeson, said it was clear from their discussions that the current round of talks would only have a lifespan of a fortnight.
He urged Sinn Fein and UUP leaders to take part in direct talks to break the deadlock.