"If it becomes evident that a government can be established in the Knesset according to our values, we will consider joining it," Barak said during a meeting with the Labor Party's immigrant organization in Tel Aviv.
Barak stressed that in spite of his willingness to serve in a new government headed by Kadima, he has no plans to join it at any cost.
"If it turns out that elections are needed, we will be prepared for elections. In any event, we will work according to what is good and right for the State of Israel and its citizens."
He added that Israel was facing important decisions in a series of areas: The negotiations with the Palestinians, the indirect talks with Syria, the truce in the Gaza Strip being used by Hamas to grow stronger, and the talks for the release of kidnapped soldier Gilad Shalit.
Herzog: We prefer alternate coalition over elections
Social Affairs Minister Isaac Herzog said Thursday, "We are maintaining our position that forming a new coalition is preferable (to holding new elections)."
Speaking at a Pensioners’ Union conference in Tel Aviv, the Labor minister said "we prefer an alternative government. We won't intervene in the Kadima primaries, but once they are concluded we will see whether we can reach an agreement with whoever is elected Kadima chairman on social, economic, diplomatic and security-related issues.
"However, it is clear to me that in light of the difficulties pertaining to the 2009 State Budget it won't be simple to establish a new coalition, and it is very possible that new elections will be held as early as March 2009," Herzog said.
Infrastructure Minister Binyamin Ben-Eliezer, also from Labor, told the conference he believed Olmert's decision was commendable. "A leader must know when to make tough decisions, and the PM has reached a difficult but appropriate decision," he said.