They want the world to believe that peace agreements with the Arabs are not worth the paper they are written on. Actually I don't see the peace treaty as the issue. The issue is that the Saudis are encouraging the Egyptian military to wrest back the gains of the reformers, and the US will do nothing that angers its Saudi ally.
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Preliminary report: Stabbing attack in Jerusalem near Damascus Gate (Haaretz)
from the article: Israeli, Palestinian officials hold separate U.S. meetings with Clinton