The predicted Middle East nuclear arms race is on

As predicted, the nuclear arms race in the middle east has begun. Since Iran's nuclear reactor, and it's apparent malicious intentions, Egypt has announced the site of its first nuclear plant as El Dabaa, and Hizbullah is calling for a Lebanese nuclear reactor. And we all know where these nuclear reactors will lead. Both of these states are not friends of Israel, and thus there is reason to worry.
Yet Reuters, unsurprisingly, is putting the blame on Israel.

By staying outside the NPT, Israel has maintained secrecy over a program widely believed to have yielded the region's only atomic arsenal -- perceived as an irritant and threat among its neighbors.

 Israel's possible nuclear arsenal is perceived as an irritant to the Middle East? This country, which has not announced any ill designs against any of its neighbors, is the irritant that caused the other countries in the Middle East to create their own nuclear programs? On the contrary, Israel possible nuclear capabilities has most likely attributed to the relative calm in that area of the world.
The other countries, regardless of how they feel about the Jewish state, are willing to trust Israel to be the sole nuclear capable country because they know it will not use such weapons unless death of the state and its people is imminent.
Thus we have 2 factors that keep stability in the Middle East by Israel's possible nuclear arsenal.
1) The Arab states do not worry that Israel will use these weapons against them
2) The Arab states are less likely to attack Israel because of the possible threat
And Israel is the irritant.

(Update: point made here at PoliJam Times. Correction: PoliJam traced back to Arutzsheva)