Either way Bibi’s a winner. If Abbas swallows some of this, Bibi will claim that he got more from an Arab partner than either Begin got from Sadat or Rabin got from Hussein on an issue far more sensitive than any with Egypt or Jordan. If Abbas refuses, Bibi will still be in good with the United States and he’ll look like a hero defending key Israeli principles. Indeed, there is no reference in either of the treaties with Egypt and Jordan to their recognition of Israel as the nation state of the Jewish people.

On the other three issues — borders, Jerusalem, and end of conflict and claims, Netanyahu is probably isn’t in all that bad shape either. There’s no proof yet, but he’s likely playing with formulations that accept a border based on June 1967 lines but with all kinds of territorial adjustments and land swaps that will essentially modify those lines significantly. End of conflict (that there are no more claims to be adjudicated and the conflict between Israel and the new Palestinian state is over) has always been an issue that the Israelis have pressed for; though it obligates them to deal with all the issues, including Jerusalem. That last one’s a tough cookie. But it’s not beyond the realm of Deputy Legal Advisor Jon Schwartz’s brilliant mind to fashion generalized language on this issue relating to two capitals.