http://www.jpost.com/MiddleEast/Article.aspx?id=207990

Former chief Palestinian Authority negotiator Saeb Erekat told Army Radio on Sunday that Israelis should not be afraid of democracy in the Arab world. Democracy is the "main support system for peace," he said.

The long-time PA official added that events in Egypt "mark a turning point in Arab history." He explained that two things are needed for the region: "Peace between Israel and Palestinians, and democracy in the Arab world."

Erekat, who has been forced to resign after the 'scandal' showing he dared suggest making some concessions in secret negotiations with Israel, give lessons about Arab's brand of democracy!
As we can see from the democratic rating of Arab countries, using the expression "Arab democracy" is just short of being an oxymoron.
But what Israel -- and the rest of the democratic world -- is afraid of is not "Arab democracy" but Arab islamism, something much more probable.
In the eventuality of this happening in Egypt, Israel certainly should be worried, just like any other democracy in the world but with direct concerns about its security and peace.