'Britain believes that if the Palestinians were really clever they would go for a fourth option – tabling the exact text that Barack Obama used in a speech in May. This is the key paragraph:
"The United States believes that negotiations should result in two states, with permanent Palestinian borders with Israel, Jordan, and Egypt, and permanent Israeli borders with Palestine. The borders of Israel and Palestine should be based on the 1967 lines with mutually agreed swaps, so that secure and recognized borders are established for both states. The Palestinian people must have the right to govern themselves, and reach their potential, in a sovereign and contiguous state."
Britain believes that this would be a smart move because every member of the security council would vote for this apart from one. Obama would order his diplomats in New York to veto his own words.'
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http://www.guardian.co.uk/politics/wintour-and-watt/2011/sep/16/unitednations-palestinian-territoriesI have to say that I agree with the Brits. The US are going to exercise their veto anyway, the Security Council exercise is really about putting pressure on the Americans. It would be pretty humiliating for them to veto a statement such as the above.
Do that in tandem with applying for status as a non-member state in the UNGA, and its a pretty good diplomatic week for the Palestinians all round.