About two years ago, shortly after Netanyahu came into office, Peres spoke at the AIPAC conference in Washington and informed the audience that the premier was about to make history. He really believed that. He hoped that Netanyahu would take advantage of his second term to propel Israel toward the end of the conflict, or at least make significant progress in that direction.

Two years later, Peres is no longer saying such things. He still harbors hopes regarding Netanyahu's declarations about a Palestinian state, settlement blocs and a long-term military presence along the Jordan River. He will continue to take advantage of every opportunity to run all over the globe to spread the news about the Israeli economy (and, in secret, to sit through another brainstorming session with one Palestinian leader or another ), and hope that one day it will happen. As he prepares to celebrate his 88th birthday (on August 2 ), what is there left for Peres to do except to hope for the best?