Mahmoud Abbas, the Palestinian Prime Minister has formally submitted his resignation from his post after constant power struggles with Yassir Arafat.
The likely ramifications of this are huge. First, it puts an end to the roadmap. The United States and Israel will not negotiate with a terrorist sympathizer like Yassir Arafat. Second, it will likely lead to the arrest, exile, or execution of Arafat. It is clear that Arafat is responsible for a campaign to oust Abbas from power and return himself to the international symbol of the Palestinian movement.
The loss of Abbas dooms any chance of a negotiated settlement between Israel and the Palestinians until Arafat is removed from the scene. Given the current climate in Israel, it is quite possible that a move against Arafat could be forthcoming in a very short order.
UPDATE: Sheik Ahmed Yassin, the "spiritual" leader of Hamas was also wounded in an attack against Hamas by Israeli military forces. Also in the building was another Hamas leader Ismail Haniya. It appears as Isreal is finally willing to end the threat of Hamas by removing the leadership that runs the terrorist organization.