In 1960, Israeli decision-makers decided to investigate the possibility of an association agreement with the Common Market. That was a bold and presumptuous decision. But despite repeated failures and clear signs that there was no chance of achieving this goal, the Israelis stubbornly held on to it, convincing themselves that it was reachable. The article tries to explain this puzzling behavior. It proposes several explanations: 1. The Israelis put tremendous store by an association agreement with the Common Market—not just for economic reasons but for political ones as well; 2. Israel was confident that it had several useful assets for the Europeans, which could help it reach its goal. 3. The Israelis believed that the European Commission was an ally within the Common Market institutions and was working to promote the association with Israel. It took a long time before the Israelis acknowledged their misguided assumptions. And even then they found it difficult to abandon the dream of association. They finally gave up in spring 1962.