The most contentious issue in Irish politics over the past four years has been parked. The draft report of the Expert Commission suggests that water charges as we knew them are gone but a tax down the line may be necessary.

What we have is the classic Irish solution to an Irish problem - the fudge. 'No, of course we're not getting rid of water charges - that would be a breach of EU directives - it's just that the State, as the customer, will now pay the charges'.

Individuals will have to pay only if they engage in "wasteful usage". It has yet to be determined what the definition of normal usage will be. But given the lack of backbone shown by the powers-that-be on this issue over the past few years, it's a fair bet that anything shy of having a swimming pool in your garden will qualify. 'Please feel free, sir, to run your tap all night in the event of a heavy frost. It would be an infringement of your civil rights not to allow you to do so.'

Perhaps politically there was no alternative to 'the fudge'. Politics is ultimately the art of the possible. And sometimes there does come a time where an argument, however strong your case may be, becomes unwinnable. Sheer incompetence and political cowardice have probably ensured that's the case when it comes to water charges.

The rules of engagement were dictated by the 'no way, we won't pay' fringe politicians and the mainstream parties retreated pitifully and allowed them to do so.

There is, of course, relief that the whole depressing spectacle and charade will soon be over. That we won't have to listen to frankly laughable comparisons between the anti-water charges campaign and Martin Luther King's civil rights marches. That we can focus on the issues that are really serious and affecting people's lives - housing, homelessness, high rents, insurance costs, waiting lists, global warming, and so on.

Of course, there'll still be a fair bit of shouting and roaring from those who value street protests over what goes on in the Oireachtas. The fact they've won the battle will only act as an encouragement. There'll be loud demands for a referendum on Irish Water. It may happen, even though history suggests we should beware those holding hardline views demanding things be written into the Constitution.

But ultimately if there are no charges, the campaign's oxygen is gone. Even a dithering, fretful Fianna Fáil - obsessed with its left flank - will be able to live with 'the fudge'.

Unless the EU throws a spanner in the works, we'll all gratefully move on. However, we should be under no illusions. 'The fudge' comes at a price.

Forget, for starters, about water conservation - it seems many apartments won't have meters. Irish Water will still exist - at least some common sense has prevailed on that one. But it will be operating with one hand tied behind its back.

The EPA's report last week, which found 43 urban areas where sewage is discharged to watercourses without any treatment, demonstrates the challenges that are there. It's estimated that an investment of €13bn is required in our water infrastructure over the coming years. Where will that money come from?

Direct taxation has always been the answer from those opposed to charging. They want the usual 50pc of the population who pay the vast majority of income tax to once again stump up. However, the reality is that even when tax revenue was plentiful, the water network consistently lost out to spending in more electorally advantageous sectors. Funding water infrastructure from direct taxation has resulted in the Dickensian water supply we have today.

Why will it change now that resources are even tighter? Will it require a genuine crisis - with widespread shortages of quality water severely affecting households and businesses, including foreign direct investment - before minds become focused?

That possibility arising in the future, by the way, cannot be ruled out, given the absence of a dedicated revenue stream for Irish Water.

Then, of course, the difficult decisions will be belatedly made - that's what happened from 2008 to 2013. But unless, and until, we are at crisis point, it's 'the fudge' that always prevails.

It can be seen too in the current stand-off over public-sector pay. It shouldn't be forgotten that the Lansdowne Road Agreement was fast-tracked to replace the previous deal because there was a general election in the offing and Labour's support required shoring up. Now Lansdowne has been completely undermined - by fudges.

First with the bus drivers, then - spectacularly - with the gardaí. Inevitably, teachers and the rest of the public sector will follow. A deal will be done, as with water charges, to make it all go away. But at what price?

The 32nd Dáil will survive and so will a Taoiseach determined to hang on for another couple of years, but who has none of the zest of his early period in the job and who has lost the confidence of most voters.

The unmistakable feeling is that politics of 'the fudge' are bringing us on a slippery slope back to the madness of the early noughties. We all know how that ended up.

We are constantly being told by Fine Gael and Fianna Fáil that the centre must hold. But how can it hold if it is constantly in retreat? If it lacks the will or the courage to simply draw a line in the sand and refuse to cross it?

Water charges may be gone as an issue, but the underlying central problem in Irish politics remains.

Shane Coleman presents 'Newstalk Breakfast' weekdays from 7am

Irish Independent