Foreign Involvement in ME Conflict

Israel's Consul in Los Angeles Yaki Dayan reported to the Foreign Ministry in Jerusalem that White House Chief of Staff Rahm Emanuel said: “We are fed up with you Israelis who adopt the correct ideas several months too late, so that they become inefficient. In addition, we are also fed up with the Palestinians, who never miss an opportunity to miss an opportunity. If there is no progress in the diplomatic process, we will reduce our involvement and effort in the conflict, because we have other matters to deal with.” (Source: Israel National News)

This is actually very interesting. What would happen if US and Europeans completely butted out?