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ISRAELI MPs passed a motion today paving the way for early elections.
Further votes are expected next week to officially dissolve Israel's parliament, ushering in new polls on March 17 next year.
The current coalition government has been riven by divisions and on Tuesday, Israeli Prime Minister Benjamin Netanyahu fired rebellious finance minister Yair Lapid and justice minister Tzipi Livni, declaring that elections would be held "as soon as possible."
Mr Netanyahu accused the two of trying to stage a "putsch," saying that he would "not tolerate opposition from within the government."
The ruling coalition had included Mr Lapid's centrist Yesh Atid party and Ms Livni's peace-oriented Hatnuah.
It is now left with Jewish Home, a hard-line party linked to the West Bank settler movement, Yisrael Beitenu, a nationalist party that seeks to redraw Israel's borders to rid the country of its Arab citizens and Mr Netanyahu's right-wing Likud party.
The differences came to a head last week when Mr Netanyahu pushed legislation defining Israel as "the Jewish state."
Although its 1948 Declaration of Independence already does this, Mr Netanyahu insisted the country must enshrine this at the constitutional level.
However, his critics said the wording would undermine Israel's democratic character and harm the rights of Arab citizens.
Both Mr Lapid and Ms Livni condemned the legislation.
Meanwhile, in the West Bank, Palestinian Foreign Minister Riad Malki said opinion polls indicated the next Israeli government may be even "more right-wing and extreme" and would bolster international support for the Palestinian cause.