Addressing the European Parliament in Strasbourg, France, Abbas said that refusing to help the Palestinians would only make a "deteriorating economic and social situation" worse, adding that this would have a negative impact on the world as a whole.

Abbas urged the European Union (EU) to give the new Hamas-led government the chance to adapt to international demands.

Western donors have suspended direct aid to the Palestinian government to pressure Hamas into renouncing violence and recognizing Israel.

The move has plunged the Palestinian Authority (PA) into a financial crisis.

"I reiterate that, based on the constitutional power granted tome by our basic law which entrusts negotiation responsibility in the hands of the PLO Executive Committee, its Chairman and its Negotiations Affairs Department, we remain fully committed to returning immediately to the negotiating table to reach an agreement that ends this long conflict," he added.

The president told the European legislators: "At this moment, as another difficult moment is open to dangerous possibilities, we seek and await for a leading European role."

"The Israeli policy to reject our extended hand to negotiate and give peace a chance increased the frustration of our people," he said.

"The frustration created by the practices of the Israeli occupation and the absence of a positive outlook for the peace process formed the background for the legislative elections that took place last January," he added.

Abbas reminded the audience "we were careful not to allow our national struggle to be diverted from its course and to protect its conformity with international law."

The president said that he had asked the new government to amend its platform in order to conform to the commitments. "We are in a continued dialogue that will take us to an expanded national dialogue in a few days. I hope that this will lead us to the required process of amendment."

"Our approach needs the support of the international community. The new government must be given the chance to adapt to the basic requirements of the international community," he asserted.

"Stopping assistance to the Palestinian Authority will exacerbate the deteriorating economic and social conditions, and will weaken the network of efficient and working government ministries, administrations and institutions that the countries of the European Union have played a vital role in building and developing." he added.

Abbas also called on the EU to help put pressure on Israel to release the millions of dollars in tax revenues that it is withholding from the PA.