The "Arab Spring" that erupted so suddenly at the height of last winter (January 2011) has long since metamorphosed into a hot and steamy Middle Eastern "summer." While in Tunis, Egypt and Libya, and maybe also in Yemen, one can speak about the "end of the beginning" of these revolutions, so it seems, in Syria the uprising has turned into bloody struggles, not to say a civil war, between segments and factions divided for the most part along social or communal lines. For Israel all this represented a dramatic change that called into question many of the basic assumptions upon which Jerusalem based its policies in the region during recent decades. So it is no wonder that Israel is following the regional developments closely, with both great interest and unconcealed concern. It is also no wonder that a debate had broken out in the Israeli public over whether the regional developments should be viewed as a source of renewed threats to the country or, rather, perhaps a hopeful opening or window of opportunity for improving Israel's status in the region, if it knows how to take advantage of the situation. Moreover, as in previous years, 2012 is expected to be the Year of Iran. It is clear, however, that in the shadow of Iranian-American-Israeli tension it is unlikely that any progress will be achieved in the Israeli-Palestinian peace negotiations. Thus, much is dependent on the American policy and on American moves of the coming American administration after the 2012 elections. At the same time, Hizballah, deepened its cooperation with Iran, preparing itself for a possible confrontation which might start in the Persian Gulf and from there might spread to the shores of the Levant. Syria, however, found itself focusing more then ever in its recent history in the domestic crisis which might lead to the fall of the Asad dynasty. On the other side, Hamas, Syria's former ally, found itself caught in between its former allies and the Sunni muslim movements in the Arab world, struggling to maintain its control over the Gaza strip. Thus, in this front too, Israel and the Arabs find themselves in the face of the same dilemma – looking for peace or maintaining the status qua.