However, before we allow ourselves to be swept away as the media
reported expressions such as "the promise of a new era", or "a
precious opportunity", we can not help but notice discrepancies
between contradictory statements.
On the one hand, Abbas has been called "a 'moderate' and 'a strong
and courageous opponent of violence'. On the other, he has been
photographed during the pre-election activities on the shoulders of
wanted terrorists and, the London-based daily Al-Quds al-Arabi,
reported his funneling of at least $100,000 to wanted terrorists
during the campaign.
Abbas well known as a Holocaust denier. He has denounced "the
Zionist enemy" and has promised a mass Palestinian return' to Israel.
Yet, as long as the disengagement plan is on track no longer a
unilateral plan, but seen as belonging to both sides, the
Palestinians have an incentive to maintain a calm atmosphere. Whether
the Palestinian Authority can impose restraint is doubtful.
If the Israeli reaction is one of skepticism it is small wonder. The
rockets continue to be fired on the Gaza area settlements, and
violence along the borders has not stopped. Israelis continue to be
maimed and killed.
Perhaps the most surprising development has been the welcome
appointment of Prof. Stanley Fischer to the post of the Governor of
Israel's Central Bank. Prof. Fischer, rightly so, is seen as one who
will not bend to political pressures. More importantly Israel will
gain from his economic acumen and international connections.
Indications are that new substantial investment funds will flow into
Israeli high-tech industries as well as into the Israeli Stock
Exchange, which is regarded as a promising emerging market. The only
positive reaction has come from Tel-Aviv Stock Exchange investors.
The local stock market has been an excellent performer and since 2003
has added 83%. Massive turnovers have been accompanied by impressive
price gains.
The breeze of peace currently blowing through the Middle East could
prove to be as illusory as the hopes that maintain its momentum.
Chairman of the Palestinian Authority Mahmoud Abbas in his well
publicized statement said "the Palestinians extend hands to our
neighbors. We are ready for peace based on justice. We hope that the
Israeli response will be positive".