A power vacuum occurred November 23 when opposition and the ruling anti-Syrian coalition failed to agree on a presidential candidate and the pro-Syrian President Emile Lahoud left office with no apparent successor.
The al-Moustaqbal bloc said earlier efforts were underway to amend the constitution to allow the election of Army Commander Gen. Michel Suleiman for the nation's top post.
The paper said immediate comment from other factions was unavailable, adding that it was not entirely clear if the al-Moustaqbal stand would facilitate the election of a new head of state during a parliamentary session scheduled for Friday.
Under the Lebanese Constitution, a president is elected by parliament for a six-year, non-renewable term. However, Lahoud's tenure, which was due to end in 2004, was extended until 2007 by an ad hoc amendment allowing him to stay in power.
It was the fifth time since September 25 that the Hezbollah-led opposition has boycotted the vote to elect a new president, preventing the two-thirds quorum required, in a bid to stop the U.S.-supported majority from electing a president from their own ranks.
If parliament is unable to elect a president on November 30, Prime Minister Fouad Siniora and his Cabinet will automatically assume executive powers. However, Lahoud said he would not hand power over to Siniora's Western-backed government.
If the current year-long crisis is not resolved then there is a real chance that two rival governments will emerge leading to potential political chaos.
Lebanon witnessed a devastating civil war from 1975-1990, and has seen a chain of political assassinations in recent years, including the murder of former Prime Minister Rafik Hariri on February 14, 2005.