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Last Thursday, The Economist offered a historical analysis of the current conflict in Gaza that strikes me as not only cool and collected, but also as relatively even-handed. "The Hundred Years' War in Palestine" criticizes the common complaint by Israelis that Palestinians are unwilling to compromise:

The fact that the Arabs rejected the UN’s partition plan of 60 years ago has long given ideological comfort to Israel and its supporters. Abba Eban, an Israeli foreign minister, quipped that the Palestinians “never missed an opportunity to miss an opportunity”. Israel’s story is that the Arabs have muffed at least four chances to have a Palestinian state. They could have said yes to partition in 1947. They could have made peace after the war of 1947-48. They had another chance after Israel routed its neighbours in 1967 (“We are just waiting for a telephone call,” said Moshe Dayan, Israel’s hero of that war). They had yet another in 2000 when Ehud Barak, now Israel’s defence minister and then its prime minister, offered the Palestinians a state at Bill Clinton’s fateful summit at Camp David.

This story of Israeli acceptance and Arab rejection is not just a yarn convenient to Israel’s supporters. It is worth remembering that it was not until 1988, a full 40 years after Israel’s birth, that Yasser Arafat’s Palestine Liberation Organisation (PLO) renounced its goal of liberating the whole of Palestine from the river to the sea. All the same, the truth is much more shaded than the Israeli account allows. There have been missed opportunities, and long periods of rejection, on Israel’s part, too.
Instead, The Economist argues that both sides have missed opportunities, and gives fair descriptions why these were well-considered and supportable positions on both sides in their historical contexts.

The Economist then goes on to explain how things have changed in recent years.
One far-seeing Zionist, Vladimir Jabotinsky, predicted in the 1930s not only that the Arabs would oppose the swamping of Palestine with Jewish immigrants but also that “if we were Arabs, we would not accept it either”. In order to survive, the Jews would have to build an “iron wall” of military power until the Arabs accepted their state’s permanence. And this came to pass. Only after several costly wars did Egypt and later the PLO conclude that, since Israel could not be vanquished, they had better cut a deal. In Beirut in 2002 all the Arab states followed suit, offering Israel normal relations in return for its withdrawal from all the occupied territories, an opening which Israel was foolish to neglect.

The depressing thing about the rise of Hamas and the decline of the Fatah wing of the PLO is that it reverses this decades-long trend. Hamas’s victory in the Palestinian elections of 2006 had many causes, including a reputation for honesty. Its victory did not prove that Palestinians had been bewitched by Islamist militancy or come to believe again in liberating all of Palestine by force. But if you take seriously what Hamas says in its charter, Hamas itself does believe this. So does Hizbullah, Lebanon’s “Party of God”; and so does a rising and soon perhaps nuclear-armed Iran. Some analysts take heart from Hamas’s offer of a 30-year truce if Israel returns to its 1967 borders. But it has never offered permanent recognition.
The article also sets the Israeli-Palestinian conflict into its global context, noting that they two sides are not acting independently, and never have been:
For too long the conflict in Palestine was a hostage to the cold war. America was once neutral: it was Eisenhower who forced Israel out of Gaza (and Britain out of Egypt) after Suez. But America later recruited Israel as an ally, and this suited the Israelis just fine. It gave them the support of a superpower whilst relieving them of a duty to resolve the quarrel with the Palestinians, even though their own long-term well-being must surely depend on solving that conflict.

It may be no coincidence that some of the most promising peacemaking between Israel and the Palestinians took place soon after the cold war ended. But now a new sort of geopolitical confrontation stalks the region, one that sets America against Iran, and the Islamist movements Iran supports against the Arab regimes in America’s camp. With Hamas inside Iran’s tent and Fatah in America’s, the Palestinians are now facing a paralysing schism.
This is the conclusion of the writers at The Economist, and I find it a very compelling one:
Taking Hamas down a peg is one thing. But even in the event of Israel “winning” in Gaza, a hundred years of war suggest that the Palestinians cannot be silenced by brute force. Hamas will survive, and with it that strain in Arab thinking which says that a Jewish state does not belong in the Middle East. To counter that view, Israel must show not only that it is too strong to be swept away but also that it is willing to give up the land—the West Bank, not just Gaza—where the promised Palestinian state must stand. Unless it starts doing that convincingly, at a minimum by freezing new settlement, it is Palestine’s zealots who will flourish and its peacemakers who will fall back into silence. All of Israel’s friends, including Barack Obama, should be telling it this.

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