In his much-anticipated speech to the United Nations General Assembly today, Palestinian President Mahmoud Abbas said that he would be willing to return to the negotiating table with Israel with on condition that the international community recognise a Palestinian state based on 1967 borders and that Israel cease all settlement building.

During the address, Mr Abbas made his formal request for full recognition of Palestine as an independent state.

Mr Abbas told the conference that Israel settlement policy, if allowed to continue, would "destroy the chances of a two-state solution and threaten the existence of the Palestinian Authority".

"This is the moment of truth ... we are the last people in the world to be occupied. Will the world allows this to continue by the state of Israel?" he said.