There is no alternative to negotiations between Israel and the Palestinian Authority, and any unilateral steps by the PA would only break the existing framework and lead to unilateral moves by Israel, Prime Minister Binyamin Netanyahu said Sunday evening in an address to the Saban Forum in Jerusalem.

Netanyahu went on to stress that in order to achieve peace, "negotiations must resume immediately," adding Israel was prepared to begin talks "with a generous spirit."

"I want to stress that we are willing to take steps that will help in advancing the peace process, but it must begin, there is no reason to waste time," said the prime minister.