In an op-ed in the New York Times Wednesday, Economics Minister Naftali Bennett laid out his vision for the future of Judea and Samaria – which entails Israel’s annexing Area C, with full Palestinian sovereignty in Areas A and B, minus a military force.

The two-state solution is no solution for Israel, Bennett wrote. “Recent events in the Middle East are a reminder of how the old models of peace between Israel and the Palestinians are no longer relevant. The time has come to rethink the two-state solution.” Hamas’ war against Israel over the summer, the rise of ISIS, and the self-destruction of Syria have made the Middle East into a much different place than it was in 1993, when the Oslo Accords, the basis of the two-state solution.

Because of those developments, he wrote, “Israel cannot withdraw from more territory and cannot allow for the establishment of a Palestinian state in the West Bank. If we were to pull out of the West Bank, the entire country would become a target for terrorists who would be able to set up rocket launchers adjacent to the Old City of Jerusalem and on the hills above the runways of Ben-Gurion International Airport and the Tel Aviv Stock Exchange.” Withdrawing from the Jordan Valley, he said would “potentially open the door for the Islamic State and other extremists to flood into the new Palestinian state. We cannot take that risk.

“How do I know? Because it happened. Not once, not twice, but three times,” Bennett wrote. After the Oslo Accords and Israel’s withdrawal from PA cities, the second intifada began, requiring the IDF to retake those cities. When Israel pulled out of Lebanon in 2000, the Second Lebanon War quickly ensued. And the 2005 disengagement has led to at least two wars with Hamas, he wrote.

“But this does not mean all hope is lost,” Bennett continued. “There is still much we can do to improve ties with our Arab neighbors, to generate peace and to cultivate economic prosperity for all people who live in this land.” The plan would entail Israel providing massive economic assistance to the PA to help raise its standard of living, while leaving it free politically.

“In my former career as a high-tech entrepreneur, I saw how diverse people from different backgrounds could learn to work together in pursuit of economic prosperity,” Bennett said, adding that the formula had proven itself.