Means that the ultra-orthodox jews won't be calling the shots anymore, odds for peace in middle east just tripled. (Not implying that it's likely now, sadly.)
Unless Likud is willing to jettison Netanyahu, it means another election.
Likud can't form a government, but neither can Blue & White without the support of the Arab List which has 13 members in the Knesset. However, if Blue & White ask the Arab List to join the government, it will lose the support of the Israel Beitenu party which is pro-settler, hard core nationalist. It's academic anyway since the Arab List has said it won't participate in a government.
That leaves a unity government jointly held by B&W and Likud, but Benny Ganz, the leader of B&W, has said it won't participate in a government with Netanyahu.
What would be interesting is that were there a unity government, the Arab List (since it would have the largest number of MPs not included in the government) would be the official Opposition Party. There's a lot of perks and respect given to the Opposition Party such as being included in the itineraries of foreign diplomats and dignitaries.
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