On March 31, Benjamin Netanyahu was sworn-in as Israel's new Prime Minister. His speech to the Knesset has garnered much attention here but it provides some additional insight into just what his return to power will mean for the peace process and for the standoff over Iran's nuclear weapons. Netanyahu pledges to be a partner for peace with the Arab states and the Palestinian people. He pledges to proceed toward the goal of an independent Palestinian state that will have "all the authority needed to govern themselves, except those which threaten the existence and security of the State of Israel." Netanyahu also makes clear, in what might be interpreted as an effort to dampen concerns about Avigdor Lieberman's role in the government, that his goal will be "complete equality between all the citizens of the State, regardless of religion, race or gender."

On the question of Iran, Netanyahu reiterates his commitment to preventing that country -- run by "megalomaniac tyrants" -- from getting its hands on a nuclear weapon. Discussing Iran's nuclear ambitions in the context of the Holocaust, he says "Contrary to the terrible trauma we experienced during the last century when we stood helpless and stateless, today we are not defenseless. We have a state, and we know how to defend it." Key highlights below, and the full speech after the jump:

It is a mark of disgrace for humanity that several decades after the Holocaust the world's response to the calls by Iran's leader to destroy the State of Israel is weak, there is no firm condemnation and decisive measures - almost as if dismissed as routine. However, the Jewish people have learnt their lesson. We cannot afford to take lightly megalomaniac tyrants who threaten to annihilate us. Contrary to the terrible trauma we experienced during the last century when we stood helpless and stateless, today we are not defenseless. We have a state, and we know how to defend it. It was the concern for our national security that was the first and main reason that my friends and I strove to achieve national unity at this time. Terrorists from radical Islam now threaten us from both the North and the South. We are determined to curb terrorism from all directions and fight against it with all our might. Those who want peace must fight terror. However, in order for there to be peace, the Palestinian partner must also fight terror, educate its children towards peace and prepare its people for recognizing Israel as the national homeland of the Jewish people. Over the past two decades, six Israeli prime ministers failed to achieve peace, and through no fault of their own. To the leaders of the Palestinian Authority, I say: if you truly want peace, peace can be obtained.

My Government will act vis-à-vis the Palestinian Authority to achieve peace on three parallel tracks: economic, security and political. We strive to assist with the accelerated development of the Palestinian economy and in developing its economic ties with Israel. We will support a Palestinian security mechanism that will fight terror, and we will conduct ongoing peace negotiations with the PA, with the aim of reaching a final status arrangement. We have no desire to control another people; we have no wish to rule over the Palestinians. In the final status arrangement, the Palestinians will have all the authority needed to govern themselves, except those which threaten the existence and security of the State of Israel. This track - combining the economic, security and political - is the right way to achieve peace. All previous attempts to make shortcuts have achieved the opposite outcome and resulted in increased terror and greater bloodshed. We choose a realistic path, positive in approach and with a genuine desire to bring an end to the conflict between us and our neighbors.

Prime Minister Benjamin Netanyahu's Speech at the Knesset Swearing-In Ceremony
March 31, 2009

As the poet in Psalms wrote: "Lord, my heart was not proud, and my eyes were not haughty, nor did I pursue matters too great and too wondrous for me."

Members of Knesset,