The Wall Street Opinion Journal has a great editorial outlining the positive points of the Iraq’s new draft Constitution which should be approved sometime later today. In their article, Iraq’s Federalist Papers , they wrote the following:

“As for the unambiguously good news, there is both federalism and the oil-sharing formula. The draft constitution describes Iraq as “a democratic, federal, republican system”–an organizational structure that should be familiar to Americans. Some Sunni representatives have objected strongly, saying a federal structure risks the dissolution of the Iraqi state. But the reality is that federalism in one form or another was inevitable long before the constitutional talks began.

The Kurds, for starters, are not about to give up the autonomy they have enjoyed since the mid-’90s under cover of no fly zones (and would themselves dissolve the Iraqi state by secession were concessions on this matter not granted). (Read the rest of the story below the fold...)