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Israel to hold unprecedented third election in under a year, as political deadlock holds

Israel is heading towards an unprecedented third election in under a year prolonging a political deadlock that brought the country to a near standstill.The Knesset’s bill proposing fresh elections on 2 March, passed three different readings on Wednesday without objections.It comes after no party succeeded in forming a majority ruling coalition following two inconclusive elections which took place in April and September.Sharing headlinesPrime Minister Benjamin Netanyahu and his chief challenger Benny Gantz worked on last-minute bids to avoid yet another vote which is set to cost the country billions of dollars and may produce similar results as the last two rounds.But neither has been willing to compromise on their core demands for a power-sharing agreement.Many had hoped Mr Gantz’s centrist Blue and White party would build a unity government with Mr Netanyahu’s Likud, allowing them a solid majority in the 120-seat Knesset.But Mr Gantz’s party would not budge from a proposed rotation system after Mr Netanyahu was indicted last month on charges of accepting bribes, fraud and breach of trust.