The Oslo accord has failed. Battered by a wave of fundamentalist terro
rism, Israelis are ready to elect a hard-line Likud government, while
many frustrated Palestinians are spurning the PLO in favor of the Isla
mic extremists of Hamas. Locked in a political embrace, PLO Chairman Y
asir Arafat and Israeli Prime Minister Yitzhak Rabin are dragging each
other down. The process may stagger on, but it will never yield peace
.