It's interesting news. There is a lot to go yet. If achievable there are big hurdles to get over - for one thing the nuclear energy issue will remain a stumbling block. It will also be very difficult for Bush to overcome his stubbornness about talking with people he considers an enemy.
A point I would challenge is "the need to press on Iran that a stable Iraq is in their benefit" - they are already well aware of that (as is Turkey and also Syria) and have spoken before about the issue. It's questionable what value there is in "challenging" countries you think you need to work with.
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