A cease-fire agreement is now in effect between Israel and Hezbollah. The Israel Defense Forces are withdrawing all of their troops and equipment from southern Lebanon and Lebanese civilians are moving back to their destroyed cities. There seems to be some agreement that the Lebanon Army will move into and allow the Lebanon government to reconstitute itself in southern Lebanon. And of course, Hezbollah has claimed victory.
This whole thing is a laugh, other than the number of people being killed each day.
In Lebanon the main issue going forward is that the Lebanon government and military are not strong enough to impose power of Hezbollah. Lebanon cannot be considered as other than a failed state as long as much of it's territory is controlled by Hezbollah, which seems to be a proxy organization for Iran. As long as Hezbollah and the threat from Iran are real, Israel will feel compelled to continue air attacks. The cease-fire will only hold until Hezbollah rebuilds their arms supplies. Weeks, Months... who knows
The real issue in this region continues to be Hamas and Gaza. The situation there is unchanged. The IDF still controls much of the territory as Hamas continues some feeble resistance. It seems as Hamas has been pretty much eliminated as a threat to Israel. But don't believe for a second that they are not working to acquire missiles, drones and other weaponry from Iran.
Gaza is a bigger problem for Israel than Lebanon. Lebanon is just a failed state. Gaza is not a state or nation. Other than Antarctica and the West Bank, Gaza is the only region on Earth that is neither a recognized nation (however failed state they may be) nor a protectorate of one. It is politically a no-mans land. The people who live their don't claim Gaza to be an independent nation. Neither of it's neighbors, Israel nor Egypt, claim it as part of their soverign territory.
The Palestinian People vaguely claim that historically the whole region, including Israel, should be theirs. Throughout history there has never been a recognized, independent Palestine. The region has always existed as a land that Armies marched through to get to somewhere else. The last effective government in the region was the Roman Empire. It has since been ruled by Egypt, Turkey, The Ottoman Empire, and the British. The people, other than the Israelis, who live in the lands between Egypt, the Jordan River, and Syria have never claimed or fought successfully for their independence. They have always been dependent on the goodness of others.
The United Nations has not been able to settle this issue, nor has it been able to impose peace. Their efforts have been a total failure.
The current truce between Israel and Hezbollah may hold for a few months, but none of the root issues have been taken care of. The events of the last year, are just a preview of the future. Lasting peace is not up to Isreal, not up to Hamas nor Hezbollah, not up to Iran, the United States nor even the United Nations. More death and destruction are on the horizon for the Palestinian People until such times as their are ready to accept what they have, make the most of it, and are prepared to defend it.