The big news in Honduras is that the good guys seem to have won a four-month political standoff over the exile of former President Manuel Zelaya. Current President Roberto Micheletti agreed yesterday to submit Mr. Zelaya's request for reinstatement as president to the Supreme Court and Congress, and in return the U.S. will withdraw its sanctions and recognize next month's presidential elections.

Mr. Zelaya, whose term would have expired in January, isn't likely to be reinstated, given that the court...