Israeli Prime Minister Benjamin Netanyahu proposed a new political model that does not exist anywhere in the world so Israel could peacefully coexist with the Palestinians.

During the World Economic Forum in Davos, Switzerland, Netanyahu touted the possibility of a peace deal between Palestinians and Israel based on his proposed political model, Israel Hayom reported Friday.

The prime minister said the model would allow Palestinians full authority to handle their own affairs, except when it comes to security. He further explained they would be able to govern themselves, have their own flags, and establish their own embassies, as long as they did not pose a threat to Israel.

In this never-before-seen political model, Israel would have full control over security in Israel, including in the Jordan Valley.

Despite sharing his ideas, Netanyahu wants to wait and see what sort of peace proposals come out of the Trump administration. He said it was a "fantasy" to think any other entity than the United States could broker peace in the Israeli-Palestinian conflict.

Netanyahu made sure to reiterate that any deal going forward or any peace talks had to acknowledge that Jerusalem would remain the capital of Israel.

On the topic of the Palestinian ally Iran, Netanyahu said under the Iran nuclear deal, the "preeminent terrorist state" has the ability to produce up to 200 nuclear bombs and he "won't let that happen."

"I don't particularly care if they [the U.S.] fix the deal or if they cancel the deal," Netanyahu said. "The important thing for me is to prevent Iran from getting a nuclear arsenal, because Iran not only spreads terrorism worldwide, Iran openly says it's going to use those weapons—and use every weapon they have—to annihilate Israel. We're not going to let that happen."

The Trump administration has been extremely critical of the the deal struck under the Obama administration, and has threatened to abandon it. House Republicans recently proposed changes to alter the current deal to impose an indefinite ban on ballistic-missile development and to require Tehran to permit inspections of suspected nuclear facilities "anytime, anywhere."

Netanyahu said the Iran deal is "so full of holes" that it has allowed the Middle Eastern country to obtain whatever uranium it needs to build an enormous nuclear arsenal, most likely aimed at Israel.