I don't buy for a second that anyone besides the Mossad was responsible. They are the agency (with the capability to pull this off) that has the greatest motive. The IDF assassinates Hamas leaders frequently in the Gaza strip, so this is by no means outrageous. The only reason this is grabbing so much media attention is because it happened in Dubai, and for good reason the ruler of Dubai feels like making a deal of this.
And just going off the passport pictures of the assassins, I have a hard time believing any Arab or Palestinian group was behind this. I know intelligence agencies go out of their way to recruit members of different ethnicity, but their faces look like those of European Jews (call me crazy - and I do realize the Mossad probably has many non-European non-Jewish assassins). It is certainly possible, and even likely, that Fatah supplied information on al-Mabhouh's whereabouts, but the attack itself is way beyond their capability. Reports of Mabhouh's cause of death say he was paralyzed via electric shock and then suffocated - meaning whoever killed him tried to make it look as natural as possible. I doubt any Palestinian group is capable of an assassination of this complexity. It has to be state sponsored and the most obvious suspect is the Mossad.
EDIT - As for implications: I generally don't buy all the 'outrage' that is coming out of the UK foreign ministry. Once it hit the newsstands that the assassins used British passports, it was probably standard protocol for them to express outrage. This will all blow over in a few months as nobody in the west or the UAE really cares for Hamas. I'm pretty surprised at all the media coverage this has gotten. Prior to this assassination, it seemed as though Hamas leaders were a dime a dozen, dying left and right.
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