The Netanyahu government and the opposition are considering a new compromise proposal in order to end the crisis that has been sparked for months in Israel by the controversial reform of the judicial system, as was announced on Wednesday by the country’s president Isaac Herzog.

The campaign launched in January by the ultraconservative Netanyahu government to overhaul Israel’s judicial system has sparked an unprecedented wave of backlash, sinking the shekel and raising concerns about the Jewish state’s democratic character.

President Herzog declined to reveal details of this new compromise proposal, saying only that it could form the basis for the country’s political forces to come to an agreement so that Israel remains a “stable democracy.”

“Let me reveal for a moment what is unfolding behind closed doors,” Isaac Herzog said at a commemoration in Latrun. “This proposal enjoys support within the ruling coalition and the opposition,” he argued and called on political leaders to show determination to resolve the crisis.

Herzog’s statements came the day after the historic 12-hour session of Israel’s Supreme Court. The 15 judges heard appeals filed against an article in the controversial reform that bars the Supreme Court from overturning government decisions if it deems them “unjustified”.

Israel’s prime minister says reform of the judicial system is imperative in order to curb “excessive” judicial interference in government work.

Benjamin Netanyahu, who is on trial for corruption, is accused of using judicial reform to mitigate the consequences of a possible conviction.

There are fears in Israel and abroad that the reform will open the way to corruption and abuse of power by eliminating checks on the executive branch.

The Netanyahu government’s popularity is plummeting, as polls show it would suffer a crushing defeat if early elections were called.