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Egypt has a massive military force, they always have. Any war that Israel has with any of it's neighbours, near and far ;-) will be painful for Israel. Israel cannot afford to "lose" a war but it should not be forgotten that in every war that Israel has faught, there have been many Israeli casuatlies and no war has been "easy".
The next war will most certainly involve the homefront as no other was has in the past and Israel is preparing for it (opensource).
If indeed the MB arevoted into parliment, which it looks like they will be with approx 50% support, it will be very worrying for Israel although they will not be able to make a decison on their own. They are used to being an opposition party so they can pretty much say whatever they want without consequence. In Egypt, the President has supreme power and will make all decisions ultimately and in addition the MB will not be alone in parliment. What does all this mean? That we really don't know what will happen, but it's not as clear cut as it seems. What will probably happen IMHO is that the peace treaty with Israel will be adjusted, but not cancelled. Keep in mind that the MB have different statements almost every week, often contradicitng one another.
On a broader perspective, Israel does not want another war, but recent (as in yesterday) reports are that our Joint Chief was quoted saying that the time for proactive measures is nearing. Now that i assume refers to Iran, but would be applicable to any existintial threat to the nation.
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