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Israel’s president taps opposition candidate Eisenkot to form a government, in setback for Netanyahu

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Core Development: Israel’s president taps opposition candidate Eisenkot to form a government, in setback for Netanyahu
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Market & Financial Impact: Eisenkot, who ran as the main challenger to Prime Minister Benjamin Netanyahu, is now a step closer to ousting Israel's longest-serving premier.
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Actionable Insight: 🏛️ Policy & Macro: Interest rate, inflation, or regulatory changes affecting broad market valuations.

Israeli President Isaac Herzog said Saturday night that he was giving opposition candidate Gadi Eisenkot the first opportunity to form a governing coalition following elections on Oct. 27.

Eisenkot, a former military chief who ran as the main challenger to Prime Minister Benjamin Netanyahu, is now a step closer to ousting Israel's longest-serving premier.

"This is the time to establish a national emergency government. I will do anything possible to prove us worthy," Eisenkot posted on his X account just after the presidential announcement.

He has up to six weeks to form a coalition, a challenging task in a deeply divided country reeling from the Oct. 7, 2023, Hamas-led attacks and the three years of wars that have followed in Gaza and beyond.

In discussions with the president this week, representatives from most of Israel's main parties recommended Eisenkot be tasked with assembling a new government. But putting together the parliamentary majority needed remains fraught and any possible coalition would require candidates to make tough compromises that could outrage their own voters.

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Official Publisher Attribution: This report is aggregated from CNBC. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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