Israel election may define 2013

There are also conflicting reports as to whether the USA has authorised the sale of its "bunker busting" bombs to Israel, which are likely to be critical to the success of any mission.

It is also clear that if Israel makes the decision to strike Iran, it would prefer to do so with military support from the USA.

This issue was a cause of significant tension last year between United States President Barack Obama and Mr Netanyahu.

It is not evident that there has been any change in the US position since the presidential election on 6 November last year.

Mr Netanyahu has vowed that Israel will act alone if necessary.

Iran has warned that it will retaliate with a range of direct responses and through its proxies in Lebanon and Gaza.

Of great concern for the world economy is Iran's threat to block the Strait of Hormuz, the passage for a large proportion of global oil supplies.

There are concerning reports that Iran has also made agreements with the Syrian regime of President Assad to provide him with significant support, and which has been forthcoming on the understanding that Syria will launch missiles armed with chemical and biological warheads against Israel if there is an attack on Iran.

The issue of Iran is not the only flashpoint for the next government of Israel, regardless of the outcome.

Palestinian Authority President Mahmoud Abbas has threatened to hand over responsibility for the Authority to Israel and said recently, "If there is no progress even after the election I will take the phone and call Netanyahu. Sit in the chair here instead of me, take the keys, and you will be responsible for the Palestinian Authority."

If Mr Abbas were to actually take such action it would place Israel in the difficult position of having to directly govern the almost two million Palestinian people living on the West Bank at a time when the peace process is in disrepair.

There have been no direct negotiations between Palestinians and Israelis for several years.