A source close to Prime Minister Binyamin Netanyahu denied rumors that elections could be held within the next 90 days and that the prime minister could approve such a move by the end of the week.

"There are no elections on the horizon," the source close to Netanyahu said. "The move to expand the government did not work, but the coalition is still functioning well."

Earlier Monday, a senior coalition source said elections could take place within 90 days, hours after Kadima leader Shaul Mofaz appeared to have thwarted a split in his party that would likely have strengthened the ruling coalition.

The source said that Prime Minister Binyamin Netanyahu could approve calling new elections in the coming days. The Knesset breaks for summer recess at the end of the week.

The prospect of new elections were a near certainty two-and-a-half months ago before Kadima joined the coalition at the last minute. Earlier this week, Shaul Mofaz pulled his party from the government and became the opposition leader for the second time this year.

Earlier Monday, Labor leader Shelly Yechimovich said the last week of before the summer recess should be devoted to passing legislation that would disperse the Knesset.

"There is a limit to the ability of the public to suffer," Yechimovich said.

Please LIKE our Facebook page - it makes us stronger