What's that sound? Is it the thunder of hooves just over the next ridge? Hurray! It's George Lee leading the cavalry (he's the one on a Segway) to rescue us from the dole queue. Hip, hip, hurray etc, etc.

No matter how you look at it, Fine Gael has floored Fianna Fáil with its choice of candidate for the Dublin South by-election on 5 June. George ticks all the boxes: he's sincere, popular and knowledgable. With the exception of FF, the announcement was loudly applauded. Too loudly. The reaction bordered on mild hysteria. George, while being very, very good at maths, has no political track record. He might be rubbish. Still, it said a lot about where we, the electorate, are at emotionally.

Lee's decision may turn out to be a missed opportunity. Many would like to see a new party enter the fray. With George's financial acumen bolstered by a couple of seasoned dissidents, we could have seen the birth of the George Lee Party. ('George Lee' and 'party': there's three words you don't see together too often.) In time, it might have become known as the Glee Party – 'Spreading the message of gloom with Glee'. Now we'll never know.

While George was throwing shapes over the economy, another man of principle, Eddie Hobbs, reminded us of Fianna Fáil's culture of hard-necked cronyism. Hobbs resigned in protest from the National Consumer Association on Thursday. He had called for Bertie Ahern's 'ex', Celia Larkin, to step down over the revelation that she was fast-tracked for a mortgage by Michael Fingleton. True to FF form, she refused.

The two 'people's economists' aren't the only men of principle taking pot-shots at Fianna Fáil. The Greens are at it too. The first rumblings between the Saviours of the Earth and Fianna Fáil came over the TDs' bonuses debacle. Then John Gormley announced the scrapping of electronic voting, despite a Cabinet decision to defer it. Last Wednesday, Eamon Ryan really stuck the boot in. He told Newstalk's Eamon Keane that he wouldn't recommend Green voters give their transfers to Fianna Fáil in the upcoming local elections. He also said the Greens would be open to doing business with Fine Gael/Labour in a possible National Government. Principled Ryan spoke of "values". He didn't mention loyalty to his government partners, though.

FF played down Ryan's disloyalty and revealed its grand by-election plan to defeat George Lee. It has chosen the late Seamus Brennan's son, Shay, to run against him. Fine Gael is putting up a trusted economist, while FF is relying on sentiment. Economies are not saved by sentiment.

To compound the impression that Fianna Fáil is entirely clueless, Brian Lenihan said, disingenuously, that the three sets of elections on 5 June don't constitute "a referendum". This is rubbish. Fianna Fáil will be tested across the entire voting spectrum: local, by-elections and European. The outcome will reflect the public mood: 384,000 unemployed people are looking forward to letting him and his colleagues know how we feel. You only have to look at the election posters to see FF is really worried: the words 'Fianna Fáil' are microscopic. It's like they're trying to distance themselves from themselves.

Ryan's comments, too, were designed to distance the Greens from them in the run-up to the elections. The question is: What will the Greens do when the elections are over? If Ryan was disloyal last week, imagine what he'll be like when FF is really down.

There's revolution in the air. The public is subconsciously preparing for a new government. As Seán O'Rourke was grilling Lee on Tuesday's News at One, the speculation wasn't whether he would win the seat, but what portfolio he would get in the next cabinet. Lee had leaped that hurdle and was already in a new Fine Gael-led government in the public's mind.

The Greens realise this and that they face annihilation in a general election. They need to start building bridges, which may be why Ryan spoke about doing business with Fine Gael on Newstalk. This double talk, however, is giving weight to ex-Green Patricia McKenna's assertion that they are hypocrites who have sold out.

George Lee has sacrificed his power as a commentator to follow his principles. The Greens have sacrificed their principles for the illusion of power. Their weasly behaviour is at odds with the image of a party with lofty ideals. They used to stand for integrity and plain-speaking. It's taken them just two years to learn how to speak like Fianna Fáil. They are still politically immature though. Trying to be Machiavellian doesn't suit them and is, frankly, a bit embarassing. It's like watching the class nerd trying to act tough.

The response to Lee's candidacy has shown that, psychologically, we are already on a general election footing. By failing to strongly endorse their partners now, the Greens are effectively undermining them. They are hinting that they're having doubts. If they don't act upon these doubts, they are finished as a party. It's a dangerous game they're playing.

The Greens can still show they have some principles left. They should jump ship now, before it's too late, and nail their colours to a National Government mast.

It's either that, or get nailed by a seething electorate.

dkenny@tribune.ie