Kenya's political leaders have reached a peace agreement of sorts. I'll address the short, medium, and long-term effects of all of this in different posts.
In the short term (think the next three months), these are the reasons for optimism:
1. Both parties have reached a political agreement that can be seen as fair to everybody. The creation of the prime minister position allows everybody to claim some kind of victory.
Kibaki keeps his claim on the presidency. Raila can claim enough power to keep his followers relieved that he will matter.
2. The economy has been leveled by the recent violence and the enduring political stagnation.
Both Raila and Kibaki are wealthy businessmen, as are virtually all their friends. When the economy suffers, so do they. They, in fact, are among the first to be hit. Certainly gives them an incentive to reach some kind of settlement.
3. The international pressure up to this point has been immense, and there are reasons to think that the international community will remain focused on stability in Kenya for the near future.
4. A lot of the work that now confronts Parliament and the President (and now the Prime Minister) is just trying to clean up the mess that the past couple months has created.
(Locally, it's known as machafuko, which translates to "crisis" or "disorder", though the root of the word is -chafua, which means "to dirty".)
In other words, the very immediate work isn't really controversial. There are other proposals that have already been agreed to, though they may still prove rather difficult to implement without some fisticuffs.
Here, I'm particularly thinking of a as a Truth and Reconciliation Committee. There's a lot of people who do not want truth to come out and will do whatever they can to make sure that they and their actions do not come under any scrutiny. Probably plenty of people on both political sides. There's a real danger of a whitewash here, which would please the politicians, but not really meet the societal cleansing goal that seems to underlay any such effort.
More on the medium and long term later...