The Palestinians are in no position even to propose the 1947/48 borders now. Their use of force in initiating a civil war and in a later stage participating with Arab countries in a declared war of extermination against the Jews violated the Charter of the United Nations (Strawson, 2006). At first the Yishuv fought this war (in the civil war stage) purely defensively (Morris, 1948: First Arab Israeli War, 2008, p. 99). For the Palestinians now to assert any right to those borders violates general principles of law forbidding a party that has unlawfully violated a transaction from later seeking to enforce it.
World Jewish Congress: Nazi train treasures must go to rightful owners (Reuters)
from the article: Livni to Sweden: Ditch EU plan on dividing Jerusalem