The danger of Israel becoming a bi-national state is far greater than the Iranian threat, opposition leader Shaul Mofaz said Monday at the International Institute for Counter-Terrorism's World Summit in Herzliya.

Mofaz emphasized the importance of reaching a peace agreement with the Palestinians soon, saying that the longer Israel waits, the harder it will become. He discussed the danger of Hamas growing stronger and in the future gaining control of the West Bank, alongside the eventuality of a bi-national state.

The opposition leader said that while it wouldn't be easy, he believes it is possible to reach an agreement with the Palestinians, and that border and security issues can be resolved relatively quickly.

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