Unless it is accompanied by the Palestinians giving claims on Israel within the 1949-1967 boundaries, an internationally recognized Palestinian state would be claim the whole of the former British mandate, and thereby setting up the possibility of the United Nations calling for an international peacekeepking force to remove the zionists from Eretz Yisrael, etc. Given the weakness of the zionist claim (remember they reject Torah, and base their claims solely on international law and a United Nations resolution no one ever took seriously), an internationally recognized Palestinian state would seriously undermine Israel. Outside the United States (that is to say, outside the Republicans and Jewish Democrats), there is little support for Israel outside the Jewish community and in most countries the Israelis are seen as thieves who stole Eretz Yisrael from the goyim (Rashi addresses this is his famous opening of his commentary on Humash, but the Israelis reject the idea of a Torah basis for their enterprise since the whole idea of zionism was a secular western state – even though the secular west things the zionists are fools at best and criminals at worst).
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