The UN Security Council looks set to issue a presidential statement condemning North Korea's "satellite" launch last week, and with it, this Japanese official's over-hyped fears of the end of the Council "as a meaningful institution" should probably be put to rest. Japan agreed to the statement, and, while it does not issue sanctions as strong as Tokyo would prefer -- the list of companies and individuals who would come under tighter sanctions is yet to be named -- the important thing here is that a compromise was reached, and the Council is condemning what was a breach of a previous resolution by North Korea. There's no need, as I've argued before, to jeopordize the really important dynamic vis-a-vis North Korea -- the six-party talks designed to close down its nuclear weapons program -- in favor of looking tough over a botched missile launch.

The Security Council vote will take place at 3 pm today.