Further conflict on the Korean Peninsula looks unlikely as the South has yet to publicly accuse the North of sinking its naval vessel, according NBC Pentagon correspondent Jim Miklaszewski on CNBC.
The Korean Peninsula has had several events similar to this, where escalation seems likely, but cooler tempers prevail.
Miklaszewski says that, due to the time passed, it is now unlikely the South will engage in a military response to the North, or that the North Koreans were involved in the sinking of the South Korean naval vessel at all.
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