We have had good days and bad days since the signing of the Good Friday Agreement five years ago but yesterday must go down as one of the most depressing, in political terms, which we have experienced, in all that time.
Not only did we have final confirmation that an understanding on the restoration of our devolved structures could not be reached, but, in a particularly alarming development, the elections scheduled for later this month were postponed by the British government.
While Tony Blair has, by any standards, made a massive contribution towards the cause of progress, he made the wrong call yesterday (Thursday).
It was striking that the British prime minister's decision to cancel the poll was opposed by every main political party represented in both Stormont and the Dail, with the sole exception of the Ulster Unionists.
David Trimble faces huge challenges, but it is difficult to see how solutions to his problems, and those of everyone else, can ultimately be provided by abandoning the elections.
It may well be that the outcome would have left Ian Paisley and the DUP as the majority voice within unionism, greatly reducing the chances of the return to a power-sharing administration at Stormont.
If that happened, it would simply have to be accepted as the will of the unionist electorate.
Those who have closely observed the attitude of Peter Robinson and Nigel Dodds might not conclude that a deal is impossible, but they are unlikely to be put to the test for some considerable time.
Even if we are only facing a lengthy period of negotiations, the mandate of the leading parties still needs to be renewed.
Should Mr Trimble reach an arrangement with the other key players in Belfast, Dublin and London prior to any election, it will be hard to argue that he can still be presented as the leader of unionism.
It was also noticeable that Mr Blair paid specific tribute at Downing Street yesterday to Taoiseach Bertie Ahern, the Ulster Unionists and Sinn Féin.
The fact that he managed to omit the SDLP from this list can only add to the frustration felt by Mark Durkan over the latest turn of events.
Mr Blair last week posed three serious questions to the republican movement, all of which deserved credible answers.
The responses offered in two stages by Gerry Adams may not have fully satisfied Mr Trimble, but they were still highly significant and represented a major advance.
A further clarification on the question of IRA activity would be an important gesture of goodwill, but the next logical step for republicans is a full reengagement with the De Chastelain Commission and the taking of seats on the policing board.
These would not in any sense be concessions but rather firm evidence of a determination to make sure that the political process starts to move forward again.
It would be easy for all parties to reflect on previous mistakes, but the priority now must be to build on what has already been achieved.
We know that nationalists and unionists can work together for the benefit of the entire community, and it is essential that, no matter how long it takes, they should be given the opportunity to do so again.
