Israeli president Shimon Peres says a nuclear-armed Iran is not only a 'nightmare' for Israel but also 'for the entire world'.

"In a way it's more complicated than in the time of the Nazis. Hitler didn't have a nuclear bomb," Peres claimed in a press conference held ahead of Israel's 60th anniversary.

Referring to Iran, Peres described the combination of 'a weapon of mass destruction' with 'a rhetoric of mass destruction' as 'worrisome'.

While Israel accuses Iran of pursuing nuclear weaponry, it is believed to be the sole possessor of 200 to 300 nuclear warheads in the Middle East.

Peres suggested that Israel should bid its time before launching a military strike against Iran.

"If the world forms a united front, there will be no need for a military action against Tehran," the Israeli president argued.

Despite his claims that 'no one is threatening Iran', Israel is preparing the international community for all-out war with the Islamic Republic.

Israel recently launched a 'military drill' to 'test emergency response' against what Israel called 'raining missiles' from countries like Iran.

This is while the Islamic Republic has never sought an act of aggression against any country and has only warned that it would deliver a 'crushing response' to any assailants.