Israel PM Netanyahu accepts budget compromise, avoids election

Israeli Prime Minister Benjamin Netanyahu's political future is at stake as he has until midnight to form a coalition government. If the premier fails, he is expected to push parliament to hold snap elections.

It is unprecedented even in Israeli politics: Voters are going to the polls for the second time in six months. And Prime Minister Benjamin Netanyahu is fighting for his political survival.

Martin Indyk, Council on Foreign Relations Distinguished Fellow and former U.S. special envoy for the Israeli-Palestinian negotiations discusses the Israeli elections. He speaks with David Westin on "Bloomberg: Balance of Power."

Benjamin Netanyahu has called on his main political rival, Benny Gantz, to form a unity government with him. The Israeli prime minister made the offer after a second general election failed to produce a clear winner.

Israeli Prime Minister Netanyahu has been tasked with forming the country's new government, the president's office stated. But neither Netanyahu nor his opponent Gantz has an easy way to form a parliamentary majority.

Politicians hope that the country's third election in less than 12 months will end months of deadlock. Exit polls predict that Netanyahu's right-wing bloc fell just short of a majority.

In a wide-ranging interview in Tel Aviv, former Israeli prime minister Ehud Olmert discussed the country's ongoing formation of a government and openly criticised his successor and rival Benjamin Netanyahu who, he says, is "not capable of continuing". He also addressed the issue of Iran, which regularly threatens Israel.

The Israeli public will see its prime minister in the dock for the first time as Benjamin Netanyahu's long-awaited corruption trial begins. The case against him has divided public opinion — and the country.

Prime Minister Benjamin Netanyahu says a stampede that killed at least 44 people at a Jewish pilgrimage site was one of the "worst" disasters in Israel's history. The nighttime disaster struck after pilgrims thronged to Meron at the site of the reputed tomb of Rabbi Shimon Bar Yochai, a second-century Talmudic sage, where mainly ultra-Orthodox Jews mark the Lag BaOmer holiday.

The prime minister could now have to take his Likud party into opposition for the first time in 12 years.

Israeli premier Bennett said Egypt could help restart the peace process with the Palestinians, while Egyptian President Al-Sisi said he wants to "strengthen regional security."