Neil Lennon admitted that looking in mainland Europe for stars is very difficult for an SPL club due to the interest of bigger clubs from England, Spain, Italy etc so he said that Celtic would have to look in other countries such as Israel, Honduras and Australia. Are players from these leagues good enough to improve the team and help us in Europe. If they are of the standard of Beram Kayal and Emilio Izaguirre then I have no doubt they would be great additions or have we found the exceptional talent from these countries already. Only time will tell I suppose.
Lennon (and his scouts) have shown they they have a good eye for a player and a good eye for a bargain. Our policy nowadays is to pick up players in their early 20s and bring them on as players. Just have a look at the squad and you'll notice a lot of the players are in that age bracket. It seems to me a sensible road to go down.
Of course there's players from these types of leagues that would improve our team. We've got Kayal and Izaguirre like you said and also Ki Sung Yeung, just because footballers play in a league that isn't held in a high regard doesn't mean that they are not of a high standard, Serie A, La Liga, Ligue 1, Bundesliga and the EPL are full of what you would call ordinary players that could easily be replaced by players from Israel, Honduras and Australia.