It is obvious that because of the Iraq war for the U.S., and Lebanon for Israel, that both countries are in a weakened state. Unless all parties approach any peace negotiations without preconditions, no peace agreements will be possible. While the right of return will be part of the negotiations, the scope of any final treaty is now unknown. Israel might want to start a dialogue with the Palestinians based on the Geneva Accords and see what results. You have to satisfy the Palesinians and not the whole Middle East.
Jordan foreign minister says to speak with Kerry on Israel-Palestinian conflict (Reuters)
from the article: Syria rejects making changes to Saudi peace initiative