The big news right now is that according to Prime Minister Bibi Netanyahu, a referendum will be held on peace with the Palestinians.
The government is to meet in special session in order to debate the upcoming negotiations with the Palestinians, a referendum on any peace deal, and the release of Palestinian prisoners.
Mr. Netanyahu is to convene the Government ministers soon in order to approve the resumption of this diplomatic process.
Netanyahu said that the referendum is in order to prevent a rift in the nation, and that an agreement that does not receive popular approval by the people of Israel is unworthy of being signed.
Critics are worried as it may relate only to territorial concessions within the so called Green Line and in Jerusalem.
Many in Israel believe that agreeing to hold a referendum on a peace agreement with the Palestinians will open the proverbial pandora's box.
With Israel's system of representative democracy, this could lead to other referendums by political leaders or powerful special interest groups.
Some are fearing leaders will urge holding votes on all sorts of divisive issues that could be detrimental to the peace process or Israel.
Also, what should be remembered is that there will be some right wing rabbis who will say that the people of Israel lack the authority to give up any part of the land of Israel.
We already see the right wing political bloc in the Knesset saying they will torpedo Mr. Netanyahu's peace efforts if he freezes settlement activities.
As for the Palestinians, it is less complicated, but no less lethal.
Palestinian President Mahmoud Abbas has long said he would hold a referendum on any peace deal he would cut.
Hamas has been the most vocal critic of the potential peace talks saying that Mr. Abbas does not have the authority to speak or negotiate on the behalf of the Palestinian people.
In their view, Mr. Abbas is not legally holding the office of President with the Palestinian Authority.
Middle East Correspondent