Generally I am in favour of sending troops (even armed troops) in such a situation as I feel that generally Germany should play a responsible role in such missions and that due to the role Germany played in negotiations in that region during the last years German troops could be considered as a "neutral force" by all involved parties.
The downside is indeed that German troops could come into a situation were they might have to use arms against Israeli troops and German troops killing Israeli soldiers are certainly not something I am very keen on seeing.
But even considering this complication I think that we should participate in the peacekeeping force - not due to a historical debt to Israel, but simply because I think that German troops would be acceptable for both sides.
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