Fine Gael and Fianna Fáil may plead that their talks covered more than Irish Water and the controversial water charges. However, reading the document agreed by the two parties it is clear the level of detail on Irish Water is much greater – much elsewhere comprises "promises" to tackle problems. For example, it commits to look at ways to reduce household costs in areas such as childcare, energy, medical and insurance, but without much detail of how.

By contrast, the appendix on Irish Water is fully nailed down. Legislation to suspend water charges will be introduced within six weeks of the new government coming to power. The expert commission to look at charging will be in place two weeks later. A separate expert body will be established to oversee the operation of Irish Water. And so on.

It may have seemed the only compromise for those in the room. But surely they could see the extraordinary additional layers, complications and costs they have put in place?

It appears Fine Gael made the concession to “suspend” charges but insisted they not be abolished – yet, anyway – and that Irish Water remains in place. For Fianna Fáil, meanwhile, the addition of yet another organisation – the expert body to oversee Irish Water’s operations – appears to have been judged essential to sell the Fianna Fáil concession that the company nameplate would not change, as it had promised in the election.

Irish Water remains regulated by the Commission for Energy Regulation. It is statutorily responsible for overseeing many of the same issues as the new expert body, and also ensuring charges are appropriate. But these charges have now been "suspended".

As long as they are not formally abolished, presumably the regulator will remain. But if charges are abolished, there must be a question about whether Irish Water would remain a regulated entity, although of course charges to non-domestic users levied by their local authorities would remain.