Israeli Opposition Secures Parliamentary Majority to Form New Government

Israeli opposition leader Gadi Eisenkot has secured the backing of 67 members of Parliament to replace Prime Minister Binyamin Netanyahu. The outcome followed support from Arab parties, which reached a record 19 seats in the recent elections.

President Isaac Herzog confirmed he will announce the chosen candidate to lead negotiations on Sunday. The president is still evaluating the viability of a stable coalition due to mutual vetoes between political blocs and internal party divisions.

Netanyahu received only 46 votes from lawmakers during official consultations. The United Torah Judaism party, a historic ally of the current prime minister, chose to abstain amid disputes over military service for religious students.

Protesters held rallies in Jerusalem to push for a political solution. While part of the population demands a national unity government, other groups advocate for the inclusion of Arab parties in the country's administration.

Political instability in the Middle East tends to increase risk aversion in global markets. This may pressure the demand for reserve assets such as the dollar and Bitcoin.