Prime Minister Binyamin Netanyahu met on Tuesday with Italian Prime Minister Matteo Renzi at the Prime Minister's Residence in Jerusalem.

After praising the bilateral ties with Italy, Netanyahu noted that earlier in the day he met with visiting US Secretary of Defense Ashton Carter, and spoke with him about the Iran nuclear deal sealed last Tuesday.

"I told him that the deal with Iran poses grave threats to Israel and the Middle East, to Europe and the world," said Netanyahu. "It will put Iran at the threshold of an entire nuclear arsenal within a decade, because at that time the deal permits Iran to build as many centrifuges as it wants and to enrich as much uranium as it wants, which means that Iran could break dozens of nuclear bombs in zero time."

He added that as soon as the deal passes, sanctions relief will likewise give the leading state sponsor of terror "hundreds of billions of dollars to bankroll its aggression in the region and its terrorism around the world."

"That's more money for the Iranian Revolutionary Guards, more money for the Quds Force, for Hezbollah, for Hamas and Islamic Jihad, for the Libyan proxy terrorists of Iran, more money for the Shi'ite militias in Iraq, for the Houthis in Yemen."

Netanyahu said, "today we are told that the whole world supports this bad deal. Well, that's just not true. Israel and many Arab states oppose this deal."

Supporting his statement, a key Saudi source revealed Tuesday that Saudi Arabia will "seriously try to get" a nuclear weapon to defend itself due to the Iran deal, indicating the feared beginnings of a regional nuclear arms race.

The prime minister continued, saying, "in any case sometimes the entire world can be wrong. It was dead wrong on another nuclear deal - the one with North Korea."

"We were told then by the international community, the scientific community, the arms control community that that deal would prevent North Korea from getting nuclear weapons and it would make the world safer. Well, we all know how that turned out."

The North Korea nuclear deal was sealed by then-US President Bill Clinton in 1994 - in 2006 the Communist rogue state performed its first nuclear test and now reportedly has a full nuclear arsenal. Tellingly, some of the same American negotiators that took part in the North Korea deal also took part in the Iran deal.

Further supporting Netanyahu's negative assessment of the deal, Iran has declared it will not allow international inspectors to visit its key military sites where nuclear weapons testing is thought to be being conducted.

"Italy needs hutzpah"

Renzo then spoke, noting that this is his first visit to Israel as prime minister of Italy.

As an Italian and a European, he said, "coming to Israel means coming back home. This is where the roots of our culture and the seeds of our future are."

Praising Israeli innovation, he said that Italian youth need Israeli hutzpah, a term indicating audacity and impudence.

Likewise he thoroughly condemned anti-Semitism, noting its role in fueling terrorism around the world.

"We have different positions about the deal with Iran," said Renzo, turning his attention briefly to the controversial deal which was struck by the G5+1 group of world powers, Iran, and the EU, represented by EU foreign policy chief Federica Mogherini - who is herself Italian.

"We support this compromise...we think it's possible to compromise for the future of Iran, but we think it's impossible to compromise on the security of Israel," said Renzo.

He emphasized that Israel's existence is not a "right," but rather a "duty," adding that the security of Israel is the security of Europe.