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It is time for Israel to seize the opportunities that have presented themselves in the post-Arab Spring period. Recognizing that an opportunity exists is, of course, not enough: the parties to the conflict must seize it by extending an attractive offer to the other side. The new Israeli government would be well advised to move forward in two possible directions: one, advance Israeli-Palestinian bilateral negotiations for the establishment of a Palestinian state along 1967 borders, with mutually agreed territorial swaps; two, advancing multilateral Israeli-Arab negotiations, under the umbrella of the Arab Peace Initiative (API), with the same aim. Though the “Arab World” as we have known it no longer exists, the “dormant” and “dysfunctional” Arab League has, for example, recently sent forces to the Yemen civil war. Thus, Egypt, Jordan, Morocco, Saudi Arabia and the Gulf States – the so-called moderate Arab countries – not only share with Israel mutual interests, but can also play an active role, as evident in the Yemeni case, in resolving the Palestinian problem.Unfortunately, Israel’s new government has no intention of seizing this opportunity. The main aim of Netanyahu and his previous and current right-wing coalitions has been to “perpetuate the status-quo,” which is a euphemism for consolidating Israel’s hold on Judea and Samaria – the occupied territories.This goal is pursued despite realistic assessments that indicate that such a course of action will slowly but surely cause Israel’s political, economic and even cultural ostracization by the international community, becoming a pariah state. A third Palestinian intifada may currently seem an unlikely possibility, but it cannot be ruled out, in view of the despair and frustration emanating from “no hope on the horizon.”It is possible that under US, EU and other international pressure, Netanyahu will re-confirm his support, or even commitment, to the two-state solution, as proclaimed in his 2009 Bar-Ilan speech. But declarations of this kind would be mere fig leafs for a policy that is effectively strengthening Israel’s control over the occupied territories. Such a declaration would be no different from the so-called peace plan that prime minister Yitzhak Shamir devised in 1989 in response to the first Palestinian intifada and the PLO’s recognition of UN Resolution 242 – a media public spin designed to placate the international community. Future historians will surely lament the fact that the previous and current Netanyahu governments have completely ignored regional developments and the consequent opportunity to resolve the Palestinian issue, surely Israel’s thorniest foreign policy issue.Israeli prime ministers have always bragged that they have “left no stone unturned” in their pursuit of peace. Regardless of the accuracy of these assessments, it does not seem likely that anyone is going to turn over the current stone in the near future.The author is the Bamberger and Fuld Chair in the History of the Muslim Peoples at the Department of Islamic and ME Studies of the Hebrew University of Jerusalem, and Board Member of Mitvim – the Israel Institute for Regional Foreign Policies.