Barak: Time to trade capitalism for responsible financial doctrine

Labor Chairman Ehud Barak convened a party meeting on Monday, in view of recent unfaltering polls, which predicted that Labor will crash come election time.

"We have no choice but the replace the Right's hoggish capitalism with a responsible financial doctrine. We differ form other parties in the since that faced with the financial tsunami rattling the world, we want to see massive investments in infrastructure, education and in social security for the weak, and in providing a financial safety net for the market, should things come to that.

"I can assure you," added Barak, "that we were willing to enable (Livni) to form a stable, broad government, with a true partnership, but since that didn’t work out, we are willing to fight for our place.

"Our way is clear, from our political and security agendas through to our willingness to discuss comprehensive peace."

Kadima Chairwoman Tzipi Livni convened her Knesset faction as well, and urged her colleagues to lend their support to the party's dissolution of Knesset bid, which was filed with the Knesset secretariat earlier in the day.

"We've been in (political) limbo for several month now, so now we have to act quickly. I expect all the faction heads to support the bill," she said.

"Going for an election was the right thing to do. I believe in Kadima and I believe in its ability to win. Israel will decide who its next prime minister will be. We have had some flattering polls but in order to translate them into reality we have to be united and work together," she added. 

Amnon Meranda contributed to this report