Although the opportunity to restore our devolved structures at Stormont is still very much on offer, there are growing fears that a breakthrough may not prove possible within the timescale available.
Detailed talks between the main parties over a period of several weeks are plainly required, but so far there is little sign of a serious engagement.
An outcome will need to be reached preferably before the end of February and certainly by St Patrick's Day if the Northern Ireland Assembly elections are to take place as scheduled in May.
There is a strong case for proceeding with the poll even in the event of political stalemate as a postponement would inevitably suggest that some parties were reluctant to face the electorate.
The argument that there would be little point in conducting elections to an assembly which did not exist has to be considered, but, at this stage, the dangers of asking politicians to operate after their mandate has effectively expired would be greater.
While a number of groups have contributed to our difficulties, republicans face special responsibilities in the present circumstances.
Decisions over the future of the IRA cannot be delayed indefinitely if the Good Friday Agreement is to be implemented in full.
This means resolving both the arms question and the policing debate as swiftly as possible, as the idea that a political movement could sit in government while retaining a private army was never sustainable.
Policing, as ever, represents the key to progress, and the spirit of the Good Friday Agreement dictates that any further reforms which may be necessary in this area should be negotiated from the inside.
It goes without saying that a range of other issues, including demilitarisation, also need to be addressed, while a display of renewed enthusiasm for the political process on the unionist side would be a welcome development.
All these objectives are capable of being accomplished, but sustained attempts to break the deadlock must get under way sooner rather than later.
