Ehud Olmert, like Barak, waited late to present something to Abbas. Always with the anti-Semitic, anti-Palestinian media they don't give the Palestinian side. The situation is not so, so simple. The PLO has already said basically it wants East Jerusalem, much of the settlements dismantled to ease movement for people in the West Bank since the way settlements exist cause the West Bank to be bi-sected. Also, Palestinians expect to have borders. Furthermore, a certain percentage of refugees (a symbolic number) should come to Israel and the rest should be compensated with Israeli and American help. If Israel keeps some settlements as per the understanding of the American interpretation of 242 and 338, then Palestinians would get some land from the 1948 lands. Olmert got very close to that, but that was towards the end of his term. Why did he need to wait til the end? Also, Arafat made the mistake of agreeing to Oslo without saying settlements shouldn't be built.
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from the article: The world is sick of Netanyahu's lack of policy