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The Obama administration last week brokered what looked like a promising deal to end the political crisis in Honduras. Sadly, this week it already is fraying. The de facto leaders of Honduras are foot-dragging, prompting President Manuel Zelaya, whom they ousted in a civilian-military coup four months ago, to issue an ultimatum from his refuge in the Brazilian Embassy in Tegucigalpa, the Honduran capital.

Both sides need to stand down and focus on restoring democracy before the country's Nov. 29 presidential election. The Obama administration, meanwhile, must hold firm to its principles and quit backing away from its stated belief that Zelaya should be allowed to serve out the remaining three months of his term.

Under the accord, the two sides were to form a...