Likud, which means "Union" in Hebrew, is a center-right political party in the State of Israel, headed, in a coalition government, by Prime Minister of Israel Benjamin Netanyahu. It was formed from the union of the Free Center, Laam and Gahal parties before the the 1973 elections. Among its predecessors was the Revisionist movement of Zev Jabotinsky. It is a part of the World Likud Movement, a federation of right-wing Zionist groups.
"Likud will strengthen the existing peace agreements with the Arab states and strive to achieve peace agreements with all of Israel's neighbors with the aim of reaching a comprehensive solution to the Arab-Israeli conflict...in the framework of peace treaties between Israel and its neighbors and will seek cooperation with them on the practical level. The peace agreements will include full diplomatic relations, borders open to free movement, economic cooperation, and the establishment of joint projects in the fields of science, technology, tourism, and industry. 
While it supports a two-state solution, it considers "Jewish communities in Judea, Samaria and Gaza are the realization of Zionist values." It is committed to settlements and their development. It "ejects out of hand ideas raised by Labor Party leaders concerning the relinquishment of parts of the Negev to the Palestinians. The practical meaning of this plan is that the "Green Line" should no longer be viewed as a "Red Line", which draws us closer to the partition plan of 1947 as it opens the door to the principle that the fate of the Galilee, the Triangle and additional areas within Israel is negotiable. The Likud asserts that such proposals by the Labor Party leadership may literally cause the dismemberment of the State of Israel. "
Role in government
It took leadership of the coalition government after the 2009 elections, with Yisrael Beiteinu as its main partner; Kadima and Labor are the major opposition parties. While Yisrael Beiteinu Avigdor Lieberman is Foreign Minister of Israel, the key foreign policy decisions are generally believed to be made by the Prime Minister of Israel.
In the 1984 election, Likud joined with Labor to form a national unity government, and both Yitzak Shamir and Shimon Peres served as prime minister. Herut and the Liberal party merged and unified with Likud in 1988. Likud was last in power from 1996 until 1999 when Netanyahu lost to Ehud Barak. 
In the U.S., while an independent organization, the Israeli party is associated with the American Friends of Likud, which is allied with the Jewish Agency for Israel and a member of the American Zionist Movement and the Conference of Presidents of Major Jewish Organizations. The American Israel Public Affairs Committee is closely allied with Likud positions.