All indications are that Palestinian President Mahmoud Abbas will go to the U.N. later this week to make a bid for statehood status. The Palestinians have several alternatives: to do nothing, to ask the Security Council to vote on full membership status or to seek recognition by the General Assembly as a non-voting state. Whichever option they choose, there are likely to be major ramifications for meaningful peace negotiations and relations between the U.S., Europe, Arab nations and the Israelis and Palestinians. Representatives of Russia, the European Union, the United Nations and the United States, collectively known as the Quartet, have been working round the clock to discourage the Palestinians from making their bid and instead to begin “a preparatory phase” of peace talks. We discuss the implications of a U.N. vote and prospects for a peace process with KHALED ELGINDY from the Brookings Institution’s Saban Center for Middle East Policy, and DAVID MAKOVSKY of the Washington Institute.