(CNN) Israeli Defense Minister Avigdor Liberman announced his resignation on Wednesday and called for early elections because of his opposition to a ceasefire deal between Israel and Gaza that brought an end to the worst fighting since the 2014 war.

Calling the ceasefire "giving in to terror," the hard-line leader of the right-wing Yisrael Beiteinu party said at an afternoon news conference in Jerusalem: "We are buying quiet for a short time at a very high price for long-term security."

"From my perspective, what happened yesterday -- the ceasefire yesterday -- with all of the arrangements with Hamas, is giving in to terror. There is no other understanding. There is no other meaning. This is giving in to terror."

"It is not a secret that there were in the past months differences of opinion between me and the Prime Minister," Liberman said, adding that he hoped the remaining five parties in the coalition would agree on an election date by next week. Liberman's resignation means he has withdrawn his party from the coalition.

Prime Minister Benjamin Netanyahu defended the ceasefire earlier Wednesday, saying, "A leader does the right thing, even if it is difficult." Speaking at a memorial for Israel's first Prime Minister, David Ben Gurion, Netanyahu said, "A leader sometimes has to stand and face criticism when there are things which are sensitive and under wraps that can't be shared with Israeli citizens.

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