Greece and Israel a real alliance?

Greece and Israel have been getting closer together and have formed a new alliance. This has been going on for the last 2 years. But how dangeroous or good is this for the region? It is obvious that the balance of power has shifted now with Greece, Israel and Cyprus forming closer links which extend to joint military exercises. I think that both Greece and Cyprus should be careful with how far they take this 'marriage of convinience' it could easly backfire on them..