As the world waits with bated breath about Iran's fate amidst the nuclear controversy, there's lot at stake. Although, it's highly unlikely that Israel will attack Iran given its strategic location (read Strait of Hormuz) and military capability. In case Israel does attack Iran, then the US would be surely dragged into the war. And if the current state of US economy is any indicator opening a third front could send the country into a recession.
Analyse this-US car sales hit a 15 year low in June, oil prices have shot to a record USD 144 a barrel, the omnipresent Starbucks has announced a closure of 600 of its stores, the US Dollar is no more a favoured currency, the burden of a failed Iraq war is beginning to show, the country is still reeeling under the mortgage and credit crisis. A war at this stage would be suicidal for the US. And a bleeding US economy won't be good news for the rest of the world. These are troubled times and so a peaceful resolution to the Iran issue is in the global interest.
The so called 'axis of evil' has already weaken with one member graduating into a friend. The big question is, "How willing is Iran to give up its rights in the wake of a 'nuclear armed' Israel feeling 'threatened?'