The EU's ambassador to Israel, Lars Faaborg-Andersen, said on Monday that Israel would find itself in complete isolation should the peace talks with the Palestinians collapse.
In an interview with Israel's Channel 2 television, Faaborg-Andersen pointed out that the potential scale of an economic boycott is not only shaped by the policies of European governments, but also, and more importantly, the measures taken by private organizations and firms.
Andersen cited the decision of some pension funds, insurance companies and banks to boycott relations with Israel on the basis of its continued expansion of the settlements.
Israel's settlement activities in the occupied Palestinian territories are illegal according to international law, and the international community widely views the continued construction of settlements as a threat to peace.
The ambassador reiterated that the EU does not have the power to influence the individual decisions of these private organizations and firms.
Quartet supports proposal for Palestinian state
Meanwhile, a Palestinian official has said that the International Quartet support the creation of a Palestinian state based on the 1967 borders with East Jerusalem as its capital.
The official, who spoke to the Italian news agency AKI following the recent meetings in Munich, said: "The U.S. Secretary of State John Kerry proposed during the meeting the results of his talks with both the Palestinians and the Israelis. He asked for the help of the Quartet to support his efforts."
According to the official, "The international sides reiterated to Kerry that they support his efforts. But, regarding his proposal for the final status issues, they said it has to be based on the positions adopted by the Palestinian and Israeli sides.
"It is a Palestinian state on the 1967 borders with East Jerusalem as its capital and the West Jerusalem a capital of Israel."
Breaking the norms, no statement was issued at the end of the meeting.
Kerry has been working on a framework deal between the Palestinians and the Israelis that does not include a clear position regarding Jerusalem.
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