Honduras itself, according to Ed Morrissey:

Zelaya had attempted to use the army to promulgate his illegal referendum on allowing presidents to seek more than one term, with ballots stashed for the purpose.  Now he won’t have any authority over the army at all, which will temporarily take its orders from the court. 

Meanwhile, the elections that even Zelaya’s own party wanted will go forward, without Zelaya able to seek a second term (and without Micheletti as well).  In other words, he may be president, but he’s already a lame duck — with a very, very hostile parliament to boot.

See also the WSJ:

Hondurans refused to bend, and the State Department apparently decided at last that Honduras was going to go ahead with its election whether the U.S. agreed or not. The Honduran compromise provided Mrs. Clinton with an elegant diplomatic exit.

Washington and the Organization of American States have now promised to send observers and recognize the elections; there will be no amnesty for Mr. Zelaya if he is charged with a crime; and the zelayistas will renounce their plans to call for a constituent assembly to rewrite the constitution. If Mrs. Clinton wants to call this a victory, it is — for Honduras.

One problem with a deal like this – which has to be presented in a way which shows everyone ‘winning’ at least something – is that it is then not easy to disentangle the deeper realities.

Was Washington uneasy that its strange threat not to recognise any elections called by the people who replaced Zelaya could look pretty foolish if the Hondurans went ahead with the elections, and delivered a massive victory for a ‘patriotic’ anti-US bullying option?

Hence a scramble to get Zelaya reinstated in any old hollow capacity, proclaim victory then quickly leave Honduras to mind its own business?

The eerie silence of those clamouring for Zelaya to be reinstated suggests that they have lost.

Still, since most of us know nothing about all this here is the website of Greg Weeks, a US academic expert in Latin America who inclines to a pro-Zelaya’ position but follows the issue closely and at least gives us the detail of the agreement.’

Ho hum.

For collecters of Diplomatic Exotica, here is a lively account of life with Mr Zelaya inside the Brazilian Embassy:

Sleep is the biggest challenge.

The Zelaya supporters have put up a curtain to block the floodlights and covered windows with newspapers, but that has made little difference.

Soldiers bark like dogs, meow like cats and crow like roosters just as my REM cycle gets going and I’m jolted awake almost nightly.

Troops last week blasted us with music from 1:30 a.m. until 7 a.m. The playlist included the grating Spanish ballad "Two-legged Rat," an accordian-laced tirade against an ex-boyfriend made famous by Mexican singer Paquita La del Barrio. Its lyrics begin, "Filthy rat, crawling animal, scum of all life …" and it got worse from there.

That was a rough night.