Amid the millions of words written on the two subjects preoccupying everyone since last autumn - the contrapuntal collapse of the world financial system and of Gordon Brown's Government - the single most important issue has remained almost unmentioned.
The elephant in the room, ignored by most commentators and politicians, perhaps because it is too disturbing to their settled world view, is what will happen to British politics once the Labour Party completes, with Mr Brown's help, the longest assisted suicide in history. What will be the consequences for Britain's political balance if Labour is permanently eliminated as a serious electoral force?
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