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Netanyahu puts an end to talking about the economic consequences of the crisis

Shortly after Cohen commented on the possibility of forcing the Riksbank to lower interest rates to spare families expensive mortgages, Netanyahu appeared in various tongues and warned that no such thing was in the offing.

In the past month, the shekel, one of the world’s strongest currencies, has fallen by ten percent. In the two days since the legislation for the new form of government began, it has fallen another 2 percent and demand for foreign currency has risen rapidly – symptoms that deeply worry the prime minister.

Investor Yossi Freeman told Ynet Radio:

Our IT companies sit on mountains of foreign exchange. If they start to take them out of the country, our banks will find it difficult to give companies reasonable loans. Then we will have to collect money abroad, at a much higher interest rate.

every day Controversial new laws continue to be prepared in Knesset committees, and every day information about the Israel crisis makes headlines in Bloomberg, the Financial Times and other financial media. Former Israeli Minister of Science and Research Izhar Shai, who is an investment advisor today, told Israel Radio:

What is happening now is just the beginning. If all these anti-democratic laws become law, there will be collapse. Without a free legal system, the money will leave Israel at a rapid rate, just look at Turkey.

Bills adopted by the Knesset these days must win the so-called first reading by a majority of three votes before they can enter into force. According to the schedule, the new governance will come into effect from the end of April. But in opinion polls, a wide majority of the country’s citizens said they wanted the government to stop the pace of its “legal revolution” and start dialogue with the opposition.

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Little doubt about it On why Netanyahu hastened. One of the many reforms on the coalition’s wish list is to drop the corruption charges against him and save him from a possible prison sentence. But the new laws being introduced are destroying the international confidence in the Israeli economy that he helped establish as finance minister 20 years ago. One of his former party colleagues told DN a few days ago:

– Now we see what is closest to his heart, homeland or skin.

Read more:

Israeli bills face domestic opposition – the US is sending a strong signal