The Arabs are again offering Israel a golden opportunity to make peace. The current negotiations between Syria and Israel can deliver that peace if the Israeli intentions are genuine and the Jewish state is willing to return the occupied Golan Heights to their rightful owners.

Israeli Prime Minister Ehud Olmert might have his own reasons to launch talks with Syria at this time. He is fighting for his political life with all the corruption cases being lined up against him. His ratings are at an historic low.

He lost one war, against Lebanon, and is engaged in another, against Hamas in the Gaza Strip. He needs the talks with Syria to stay afloat. After all, the majority of Israelis wants peace with Syria, according to the latest polls.

He can also save his increasingly shrinking ruling coalition. The main party in the government, Labour - led by Ehud Barak - has always sought negotiations with Syria. Barak has made it clear that Israel should deliver what it takes to clinch a settlement with Syria.

Olmert is saying he wants peace. And he repeatedly said the talk were serious and can lead to "historic" results. But it remains to be seen if he were serious enough to commit to peace conditions.

Syria meanwhile can wait. Its position, regionally and internationally, has grown stronger since the Doha Accord that ended the Lebanese crisis and in which Damascus played a role.

The Europeans are back talking to the Syrians and Arab officials. They made sure to visit Damascus following the inauguration of the new Lebanese President Michel Sulaiman. Syria can wait. It has waited for the return of the Golan for four decades. And it can wait some more.

But can Olmert wait? Can the Israelis afford more years of conflicts? And finally, why should they?