Jerusalem - Israeli President Shimon Peres gave the green light Monday for the country to hold new elections, telling parliament that consultations he has held led him to conclude that no legislator has enough backing to form a new coalition.

Peres held the consultations with political factions after Foreign Minister Tzipi Livni informed him Sunday that she has been unable to form a new coalition government to replace that headed by Ehud Olmert. (dpa)