Speaking at an economic conference in Derry organised by Sinn Féin, which was attended by a panel of expert economists, Mr Murphy said;
“The austerity agenda of the British Government is the biggest threat to the institutions and the political process in the north.
“Austerity isn’t working, it doesn’t work in Ireland, it doesn’t work in Britain and it doesn’t work in Europe.
“But austerity is all that is on offer from Britain. In its place we need to see sustainable and workable finances for the Executive to enable it to deliver core public services, protect the most vulnerable and create jobs.
“We need to see a united campaign from a broad rage of society, including political parties, trade unions, community groups and others to fight austerity, protect public services and grow the economy.”