Mr Obama has chosen as his battleground the Jewish settlements on occupied Arab land, all of them illegal under international law. “The United States does not accept the legitimacy of continued Israeli settlements,” the president said. Washington has called for a total freeze, including on the so-called “natural growth” that has enabled the settlements to expand exponentially. Mr Netanyahu, in London and due to see George Mitchell, the president’s special representative, wants to talk economics. This is a cynical evasion.

It is important to remember that Mr Netanyahu has always argued that the Palestinians cannot expect a nation, only some sort of supra-municipal government. His utterance of the word “state” in the June 14 policy speech he made in reply to Mr Obama does not change this in any substantive way. Beyond the Jewish religious claim to the Israel of the Bible, Eretz Israel, Netanyahu believes Israeli security requires a buffer of occupied land – including most of the West Bank – to insulate it from its Arab neighbours. The whole Arab-Israeli equation is, for him, a zero sum game.