World

Netanyahu Bows Out Of Politics

By CBSNews.com staff CBSNews.com staff

May 27, 1999 / 3:26 PM EDT / CBS

Ten days after being trounced in elections by his former army commander, outgoing Israeli Prime Minister Benjamin Netanyahu quit politics Thursday, but left the door open for a possible return in the future.

Netanyahu had resigned as leader of his Likud party on election night May 17, conceding defeat 28 minutes after early results predicted a significant loss at the polls.

On Thursday, he said he would give up his seat in parliament as well.

"I will resign from the Knesset but in no way will I resign from the struggle for the future of Israel," he told central committee members of his Likud party at a gathering in Tel Aviv.

Likud members waved banners which read "Bibi, don't quit," and chanted "Bibi, we love you" referring to Netanyahu by his nickname.

The premier was visibly moved by the outpouring of warmth by about 500 members of his Likud party who sang his name for eight minutes after he entered the conference hall.

"I thank each and every one of you from the bottom of my heart," an emotional Netanyahu said.

"God willing, we will make a comeback," he told the Likud.

But in Israel's streets, unforgiving motorists were still donning "Bye Bye Bibi" bumper stickers, which had surfaced during the election campaign.

Netanyahu's defeat translated into a crushing defeat for his Likud party as well, which saw its share of seats in the Knesset slashed by a third.

Netanyahu's aides have said the premier plans to write a book and hit the U.S. lecture circuit.

Ariel Sharon, the hawkish outgoing foreign minister wished Netanyahu and his wife Sarah success. Sharon was voted temporary chairman of the party until primaries are held some time later this year.

Labor Party chief Ehud Barak, Israel's most decorated soldier and Netanyahu's former commander, was still trying Thursday to form a broad governing coalition Thursday. That process could take until early July, during which Netanyahu will stay on as caretaker prime minister.