It will be the end of any peace process in the ME. Unilaterally declared Palestinian state based on the 1967 borders in September destroys both the 242 Resolution of the Security Counsel and the Oslo agreement. Let me remind that both these agreement consider the West bank as an entire territory. The lack of these agreements opens way for annexations parts of these areas to Israel.
4.2-scale earthquake felt in Dead Sea, Jerusalem area (Haaretz)
from the article: Abbas: Britain and France would recognize Palestinian state