Olmert and Abbas are both disenfranchised leaders whose days are numbered. Each would like to be involved in making the Historic Peace Agreement. The main obstacle is how cheap is Abbas willing to go in selling out the Palestinians. Olmert doesn't want to withdraw a single settler from the west bank. In fact, he would like to continue limited west bank expansion. If he can get this deal, along with no "right of return", then he will leap at it.
MK Nachman Shai calls on Netanyahu to declare national state of emergency (Haaretz)
from the article: Abbas says he will only talk to Olmert about final status issues