The latest round of violence in the Gaza Strip was short and nonlethal, in large part because the kindergarten at Kibbutz Ein Hashlosha was luckily empty when it was hit by a mortar shell. It was the slimmest of margins between the day of limited skirmishes we saw and a deadly, all-out collision. The truth is that neither side won, "taught the other side a lesson," or increased its deterrence.
In 1923, when Ze'ev Jabotinsky wrote one of his seminal pieces, "The Iron Wall," his intention was not for an iron wall to be built every time anew. Our iron wall was built in 1948, and that wasn't enough, it was rebuilt in 1967. We don't need to prove to Hamas or Islamic Jihad that our air force is more powerful than their incendiary kites. This is why they fly those kites. For that reason alone, in fact, they sacrifice their children on their days of national commemoration. If Israel does not take the initiative, the next round of fighting will occur soon – weeks, months, perhaps a year. And Gaza-area communities will again fall into the cycle of fear and anxiety.
It would have been simpler to propose a diplomatic solution that includes Gaza, but the refusal of Prime Minister Benjamin Netanyahu and former Prime Minister Ariel Sharon to talk to Mahmoud Abbas when he first became Palestinian Authority president; the unilateral withdrawal from Gaza in 2005 without an accord; and the PA's agreement to integrate Hamas in voting for the Palestinian Legislative Council, despite its incitement to terror – helped Hamas seize control of the Strip and severely hinder the prospect of achieving any sort of diplomatic agreement.
What's feasible today is to try reaching a peace deal with the PLO, which in its initial phase would be implemented in the West Bank only; and to try securing a long-term armistice, via Egyptian mediation, with Hamas. We can assume the PA will not agree to accept responsibility for Gaza as long as Hamas refuses to relinquish practical rule over the Strip, that Hamas will continue withholding recognition of Israel and that it will refuse to acknowledge dialogue with the Jewish state publicly.
It's also possible a truce with Hamas isn't practical due to its unreasonable demands of Israel, but if any sort of prospect for a "hudna" (truce) arises, and Hamas violates it before its predetermined expiration date – then all the more so the IDF will have to take action, as it has done in recent years.
I assume Abbas wouldn't love any deal between Israel and Hamas; but the Israeli interest is to stabilize the situation on the Gaza front and if the PA isn't capable of delivering, it then falls on Israel. A long-term armistice would be conducive to critical rehabilitation initiatives in Gaza – which would ensure the supply of water and electricity, employment to the masses of young Gazans, and the reconstruction of its ruins.
If this does happen, Hamas will likely take all the credit for the improved conditions, but this price, we must realize, is unavoidable. A stable and developing Gaza is our interest nonetheless.