Ambassador Riyad Mansour, the permanent observer of Palestine to the United Nations, objected to the veto in a statement following the vote. "The proper message that should have been sent by the Security Council to Israel, the occupying power, is that its contempt of international law and the international community will no longer be tolerated," he said. "We fear, however, that the message sent today may be one that only encourages further Israeli intransigence and impunity. This must be remedied."
Israel praised the veto, saying in a statement that the decision "contributes to the resumption of the diplomatic process and (it) regrets that the other Security Council members have refrained from making the same contribution."
The American Israel Public Affairs Committee also praised the veto, saying the action prevented "another one-sided, anti-Israeli resolution from being enacted by the U.N. Security Council."
- from http://edition.cnn.com/2011/WORLD/meast/02/18/un.israel.settlements/