Israeli left-wing Meretz-Yahad faction on Monday described Prime Minister Ariel Sharon's decision to quit the center-right Likud and form a new party as a "real opportunity" for the peace camp.

"This is a real opportunity for a coalition headed by the peace camp, including former Likud members who understood that for 38 years they have deceived the nation and themselves," Meretz-Yahad's leader Yossi Beilin told Israel Radio.

He called Sharon's resignation "a big victory for supporters of sharing the land (with the Palestinians)."

The peace camp has favored withdrawal from occupied Palestinian territories and the establishment of an independent Palestinian state alongside Israel.

But the far-right Likud members, who strongly oppose the Gaza pullout and vow to punish Sharon for the withdrawal, have downplayed the significance of Sharon's decision to leave the party he founded some three decades ago.

Likud Knesset (Parliament) member Ayoub Kara said Sharon's departure would mark an improvement for the Likud, which had "lost its way under Sharon's leadership."

Kara said he was confident that the Likud would keep its power and influence in the government even without Sharon.

The veteran Likud prime minister formally asked President Moshe Katsav early on Monday to dissolve parliament, paving the way for early general elections, which is likely to be held in March.

Sharon is due to announce his departure from Likud later in the day.

The 77-year-old politician helped establish the Likud party in 1973, but has been battling against dissidents inside Likud over the Gaza pullout, which was completed in September.

Observers said that Sharon's latest move would possibly reshape the Israeli political structure for years to come.

Source: Xinhua