CEOs of banks warn Netanyahu over the reform of the judicial system

CEOs of banks warn Netanyahu over the reform of the judicial system

Officials who participated in the meeting held today (Friday) by the Prime Minister Benjamin Netanyahu With businessmen they said that the atmosphere was “difficult” and that the participants expressed great indignation at the reform and its economic consequences. At the meeting, the Prime Minister attacked the judicial system and claimed that it is the one that is actually harming Israel’s economy.

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Among the participants were Shlomi Vogel, one of the owners of Israel Shipyards and close to Netanyahu, the CEOs of Bank Discount and Poaleim, and the Chairman of the Board of Directors of Bank Leumi, the CEO of the Pitango Fund Hami Peres and the son of the former president. Also present at the meeting was Economy Minister Nir Barkat.

Discount Bank CEO Uri Levin told Netanyahu: “It is impossible to ignore all the economists who express such great concern about the moves and therefore you must stop immediately and promote changes only with caution and broad consensus. Maybe we’re wrong and you’re right, but the price of your mistake could be fatal damage to democracy and the economy.” Bank Hapoalim CEO Dov Kotler added that he “detects an attraction of funds and investments from abroad, but not yet dramatic.”

Benjamin Netanyahu (Photo: Yonatan Zindel, Flash 90)

“The legalization problem in Israel is a huge obstacle to the economy,” Netanyahu claimed at the meeting. “The Israeli economic miracle is not due to legalization but in spite of Israeli legalization, which is one of the worst in the Western world.” The Prime Minister defended the plan to weaken the judicial system and said that “Minister Levin’s reform will fix this and help the economy. Not only will the reform not harm the economy, it will boost it.”

In addition, Netanyahu claimed at the meeting that Justice Minister Yariv Levin “again expressed his willingness to negotiate at the same time as the legislation and without delaying it.” In addition, he claimed that “so far we have not heard any willingness from the other side to change. Any change, even the smallest, was and remains for the critics – ‘the end of democracy’.”


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