This charade is being carried out by both sides for the same reason: money. Both Israel and the Palestinian Authority are dependent on international aid for survival. They are both going through the motions of "peacemaking" so the flow of money and political sponsorship will continue. Meanwhile the settlements expand and the people of Gaza sink further into the muck of hopelessness.
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U.S., allies conduct 22 strikes against ISIS targets in Iraq, Syria (Reuters)
from the article: Mubarak: Terror to spread if Israel continues stalling peace talks