CAIRO (AFP) - Following details of Franco-Egyptian initiative to end the 12-day-old Israeli attack on Gaza. The peace plan has been floated by Egyptian President Hosni Mubarak and French President Nicolas Sarkozy. Sarkozy stressed that the plan allowed for "no one to be humiliated or lose face." Mubarak said the plan consisted of three points: 1) Israel and all Palestinian factions accept an immediate ceasefire, for a limited time, to allow aid for the Gaza Strip's 1.5-million population to enter through humanitarian corridors. 2) Egypt invites Israel and Palestinians, along with representatives from the European Union and "other parties," to discuss ways of guaranteeing that the current situation is not repeated and treat its root causes. Such a deal would include "securing the borders", meaning preventing the smuggling of arms through tunnels from Egypt into the Gaza Strip - an Israeli requirement for an end to its onslaught. In return, Israel and Egypt will open their crossing points into the Gaza Strip, providing a level of relief from a punishing blockade of the territory. An official from Sarkozy's office said that an agreement on securing borders could be reached within "four to five" days, with a withdrawal of Israeli forces from the Gaza Strip "within eight days." 3) Egypt will convene Palestinian reconciliation talks aimed at ending the feud between Hamas and the Fatah of Palestinian President Mahmud Abbas and forming a government that is acceptable to the international community. Hamas boycotted the last Egyptian-mediated Palestinian reconciliation talks in November.