Isn't Iran making some kind of announcement on Sunday?
BALL OF FIRE
"If we only focus on sanctions ... that confrontation (risks) ending in an uncontrolled chain reaction ... In the Middle East today, where it's like a ball of fire, you have to be very cautious," ElBaradei said.
Iran has promised an announcement of "significant" nuclear progress on Sunday when it crowns 10 days of celebrations marking the anniversary of its 1979 Islamic revolution.
Washington is building up forces in the Gulf but says it is committed to diplomacy and has no intention of invading Iran.
ElBaradei said the "time out" could run for three months, allowing time for a comprehensive settlement covering not just nuclear issues but security and trade, which have polarised relations between Iran and the United States for 25 years.
A diplomat from a major EU power said it was possible a formula for a pause in enrichment and sanctions steps might be floated at the talks in Munich.
But the United States and Britain were concerned not to diverge from the Security Council demand on Tehran to shelve nuclear work first to earn trust lost by hiding enrichment research until 2003 and then impeding IAEA probes.
"The Security Council has been clear. If Iran takes the steps required, we can renew talks about a long-term agreement on the basis of (our) generous proposals made last year," said a British Foreign Office official.
(Additional reporting by Sophie Walker in London and Tom Armitage in Berlin)
I think the majority of the announcement has already leaked out