Barak, Israel's defense minister in its current coalition government headed by the Kadima Party, and Netanyahu are finalizing negotiations on a plan to thwart newly elected Kadima chief Tzipi Livni from trying to form a new government and instead issuing a call for early elections, the Israeli Web site DEBKAfile.com reported Tuesday.

Citing unnamed sources, the Web site said Barak and Netanyahu are planning to approach Israeli President Shimon Peres as a single bloc and ask him to dissolve the Knesset in the face of a need to confront Iran's nuclear development program.

In her acceptance speech as Kadima's new leader, Livni indicated she wouldn't spend too much time trying to cobble together a new government coalition if it seemed unlikely to happen and would instead also call for new elections, the Web site said.