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By Mark Drajem and Janine Zacharia

Aug. 1 (Bloomberg) -- Iran is driving toward a ``major breakthrough'' in its nuclear development effort that poses an ``unacceptable'' danger, Israeli Deputy Prime Minister Shaul Mofaz told a Washington audience today.

Iran with a nuclear weapon is ``an existential threat,'' Mofaz said at a forum on Iran at the Washington Institute for Near East Policy. ``We have to make sure we are prepared for every option. All the options are on the table.''

Mofaz, a former Israeli army chief of staff, is a potential leader of Israel because of Prime Minister Ehud Olmert's planned departure from office. Mofaz is competing with Foreign Minister Tzipi Livni for control of the ruling Kadima party after Olmert said he won't c... >>>