BICOM

Israeli Prime Minister Benjamin Netanyahu will reportedly meet Finance Minister Yuval Steinitz today and other political leaders this week, in talks that could be pivotal in determining the prospect of an early election.

Reports in Israel this morning suggest that if Netanyahu’s proposed 2013 budget looks unlikely to receive the support of coalition partners, then the Prime Minister will call for a general election to be held in early 2013. Israel Hayom reports that Netanyahu will today meet with Finance Minister Yuval Steinitz to discuss the potential budget, which is expected to propose deep cuts next year.

Haaretz reports that Netanyahu will then hold a series of talks with coalition partners this coming week, to assess the possibility of an agreement on the budget. If the budget is not passed by Israel’s parliament by the end of 2012, then elections will automatically be triggered. Media reports this morning suggest that Netanyahu will pre-empt such an eventuality if an agreement on the budget looks unlikely by calling an election himself, with Haaretz predicting a poll in February or March 2013.

Haaretz quotes a source close to Prime Minister Netanyahu, saying that a decision is expected ‘in the coming days’, although ‘no such decision has been made yet.’ Meanwhile, a senior Likud official struck a tone of inevitability saying it is ‘doubtful that Netanyahu could pass the upcoming budget even if he wanted to.’