The pending Palestinian issue

Frustrated by a lack of progress in peace talks, and feeling let down by the Obama administration, the Palestinian Authority says it wants to take its case to the United Nations Security Council
The PA is seeking UN endorsement for the declaration of a de facto Palestinian state, on the land occupied in June 1967. The move is an implicit admission of failure by the Palestinian Authority of its bilateral engagement with Israel, which gave the US the authority to oversee the peace talks, at the expense of the United Nations.
Israel is worried that should Abbas succeed, all that would be left to negotiate, would be the terms of Israeli military and civilian withdrawal, from territories that would be internationally recognized as Palestinian. But can Abbas re-shape the parameters of negotiation.