The accord inserts Egypt to an unprecedented degree into the conflict between Israel and Hamas, establishing it as the arbiter ensuring that militant rocket fire into Israel stops and that Israel allows the opening of the long-blockaded Gaza Strip and stops its own attacks against Hamas.
In return, Morsi emerged as a major regional player. He won the trust of the United States and Israel, which once worried over the rise of an Islamist leader in Egypt but throughout the week-long Gaza crisis saw him as the figure most able to deliver a deal with Gaza's Hamas rulers.
"I want to thank President Morsi for his personal leadership to de-escalate the situation in Gaza and end the violence," U.S. Secretary of State Hillary Rodham Clinton, who met Morsi on Wednesday, said at a Cairo press conference with Egypt's foreign minister announcing the accord.
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