With US disengagement from the Middle East peace process, Egypt — under the new Abdel Fattah al-Sisi administration — could emerge as an important facilitator of the Israeli-Palestinian peace process. In the aftermath of the Gaza war, Cairo, which is reshaping its strategic leadership role in the region, may be open to advancing a regional peace strategy on the basis of the Arab Peace Initiative. This is an opportunity for Israel to coordinate with Egypt a balanced two-state solution together with the Palestinian Authority, Jordan and Saudi Arabia.

Yet, nothing moves slower than policy changes in Egypt in between revolutions. A Cairo policy expert warned me, "The fact that you don't see change in policy does not mean that it is not happening."

Indeed, according to senior sources in the Egyptian Foreign Ministry, the Sisi administration is putting a new regional strategy in place, slowly and cautiously, but with typical Egyptian determination. Within this process, we may see changes in the configuration of Cairo's alliances in the region and the world.

Naturally, President Sisi's top priority has to be the economy, a mission impossible in the land of overpopulation and underemployment. Internationally that means a good relationship with the United States, especially for the Egyptian army, but also a diversification of relations by improving economic and political ties with Russia, China and Germany.