EU reportedly to offer new Middle East peace plan,..Israeli sources fear EU initiative for a two-state solution will force Israel ‘into a corner.

The European Union is reportedly formulating a detailed peace plan to re-energize dormant Israeli-Palestinian negotiations.

According to Israeli diplomatic sources cited by the Israeli daily Yedioth Ahronoth, the goal of the EU plan is to bring about the establishment of an independent Palestinian state based on the 1967 borders, with its capital in East Jerusalem. The report said the EU intends to set a clear timetable for negotiations between the two sides in 2013.

The plan is reportedly to be presented in March, once a new Israeli government is in place following the January 22 elections. Sources said that the plan will include land swaps between Israel and the Palestinian Authority as well as a complete freeze on all Israeli construction in the settlements.

The new plan has been initiated by the British and French foreign ministers, according to the report, with the support of Germany. Additionally, European Union foreign policy chief Catherine Ashton was said to be considering the option of adopting the plan as the official European stance. The Europeans have apparently already initiated contact with US President Barack Obama and incoming secretary of state John Kerry regarding the plan as well.

Diplomats cited in the report said that it would be difficult for Obama to oppose the plan, which was said to closely mirror his own stated views on the Israeli-Palestinian peace process.

[link to www.timesofisrael.com]