The eventual bankruptcy under international boycott of the Palestinian Authority led by Hamas appears imminent. Since Hamas's sweeping victory in January, the US and the European Union have sought to put pressure on the movement to moderate or face international isolation by blocking all financial aid to pay for the Palestinian government's outstanding debts. But is the problem just one of how to deal with Hamas or is it more complex?

Shocked and angered by the ascent of the militant Islamist group, many in the west have evoked an all-too rosy picture of the past. They overlook the fact that although there have been opportunities to further the peace process in recent years (such as the election of Mahmoud Abbas and the Israeli withdrawal from Gaza), there has been very little tangible progress.