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According to CBS News Hamas rejected the “Egyptian Plan” that would have created a “cease-fire” between Israel and Hamas ending the IDF actions in Gaza:

Hamas Rejects Egypt’s Cease-Fire Plan
DAMASCUS, Syria, Jan. 8, 2009 (CBS) This story was written by CBS News’ George Baghdadi,

The Hamas leadership rejected on Thursday an Egyptian truce plan for the Gaza Strip saying it lacked the “valid basis” that would secure Israel’s pull out of the Gaza, reopening all border crossings and lifting the blockade against the Palestinians.

A statement by the Damascus-based ten Palestinian factions, including Hamas, said they “didn’t see in the Egyptian initiative any valid basis for any acceptable solution as it includes articles deemed risky for the Palestinian resistance and its future.”

It added that the aim of the Egyptian move was “to impose restrict on the resistance movement, blockading it while giving the enemy the free hand. The initiative could only help the enemy achieve the results they are unable to attain so far.”

The word is that the two man Hamas delegation is on its way back to Syria.  Sadly the UNSC is Still working on a resolution that would bind Israel (as it is a UN member state) but would not bind Hamas. There is no word on if the breakdown of the Egyptian effort will slow down the Security Counsel resolution. ANYTHING that would delay a cease fire is good for the Jewish State.

The six-month long cease-fire that preceded the Gaza War was used by the terrorist group Hamas as an excuse to dig in and re-arm. It could be said that the last cease fire created THIS WAR.

Robert Spencer suggests that a cease-fire before Israel disarms Hamas shows a lack of understanding of Hamas and its true goals:

Sarkozy and the EU expect the Israelis to stop short of achieving their simple goal of ending this threat because they are placing their hope on a negotiated settlement between Hamas and Israel — one that they would perhaps broker.
 
But what state has ever successfully reached a negotiated settlement with an jihadist enemy who avows a religious obligation to destroy it? And why is Israel constantly expected to be the first? Sarkozy, Schwarzenberg, and all those who are calling for an immediate ceasefire and negotiations seem to have forgotten (if they ever knew in the first place) what Hamas is, what its goals are, and who forms its leadership.
Many analysts continue to view Hamas (which name is an Arabic acronym for the “Islamic Resistance Movement”) as a nationalist group that will ultimately be pacified once a Palestinian state is set up. And to be sure, the Hamas Charter of August 1988 addresses nationalism, but not quite in those terms. It declares: “nothing is loftier or deeper in nationalism than waging Jihad against the enemy and confronting him when he sets foot on the land of the Muslims.” When will this Jihad end? The Hamas Charter quotes Hasan al-Banna, the founder of the Muslim Brotherhood: “Israel will rise and will remain erect until Islam eliminates it as it had eliminated its predecessors.”
 
In saying that “Islam” will eliminate Israel, Hamas, which identifies itself in the Charter as the Muslim Brotherhood’s Palestine chapter, echoes another Muslim Brotherhood document — one in which the organization vows to work in America toward “eliminating and destroying the Western civilization from within and ‘sabotaging’ its miserable house by their hands and the hands of the believers so that it is eliminated and God’s religion” — that is, Islam — “is made victorious over all other religions.” That is a political statement, not solely a religious one: it is a declaration of intent to bring Islamic law, Sharia, to America, and enforce here its codified discrimination against women and non-Muslims, and its denial of the freedom of speech and the freedom of conscience.
….The EU and the U.N., and all those calling upon Israel to enter into another truce, should take careful note of that fact. Hamas has never hidden its intention to destroy Israel. Israel should not be impeded in its necessary struggle to destroy Hamas

Forcing Israel into a cease-fire before destroy’s Hamas is not only bad for Israel, but it is ALSO disasterous for its next target America and the ENTIRE western world.

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