Still, in getting to this point, the US fights back against the dominant narrative of its waning influence in Latin America. "This is a triumph, above all, for the United States. It ratifies the weight that the United States has in the region," says Juan Ramon Martinez, a political analyst in Honduras.
It remains to be seen if this is a triumph for Zelaya or Mr. Micheletti.
Zelaya has already laid claim to victory. "This signifies my return to power in the coming days, and peace for Honduras," he said on the local station Radio Globo. He told the Associated Press that he expects Congress to vote within a week on his fate.
But negotiators for Micheletti issued a statement underlining that, although the agreement represents a "significant concession" on their part, the signing of the agreement does not mean the automatic restoration to power of Zelaya. In fact, Zelaya does not enjoy widespread support in the Congress, which backed his ouster. Mr. Martinez, for one, says he does not believe Zelaya will ever return to office. "Never," he says emphatically.
The "Guaymuras Accord," as the agreement is named, also calls for a national unity government, a truth commission, and binding promises that both sides will respect presidential elections slated for Nov. 29.