Jerusalem (CNN) Israel will pick a date for early elections on Sunday, a source close to a key minister told CNN, following a turbulent week for Prime Minister Benjamin Netanyahu that saw key government resignations and calls for an early vote.

The decision to call early elections came after crunch talks between Netanyahu and the rightwing Education Minister Naftali Bennett broke down on Friday.

Bennett had threatened to quit the government if he wasn't given the defense portfolio after the resignation of former Defense Minister Avigdor Liberman on Wednesday, but Netanyahu rejected Bennett's demands.

After Friday's meeting, the source, who is close to Bennett, told CNN: "There was a need to go to elections as soon as possible, with no possibility of continuing the current government. A date for the elections is expected to be decided on Sunday following a meeting of the coalition party heads."

On Thursday, Finance Minister Moshe Kahlon and Interior Minister Aryeh Deri also called for early elections.

Read More