I think George Bush is trying to put an optimistic face on things, but I seriously doubt a lasting peace can be achieved before 2009. The biggest reason is because there are too many forces both inside and outside the West Bank/Gaza (and to a lesser extent, within Israel itself) that has have an interest in strife and violence continuing.
Unfortunately, I fear neither Ehud Olmert nor Mahmoud Abbas have the personal or political clout to enforce any mutual agreements they might come to.
However, the latest news that Egyptian President Mubarak is openly endorsing the peace accords puts a new spin on things but it's still too early to see if this will be enough of a positive to overcome the negatives.
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Debating the Political Left or Speaking Truth to Kooks!