Fischer: PM should have final say on BoI wages

June 14, 2009 12:55

"The government should have the last word on wages, but the prime minister is the one who should make the final decision" if there are differences of opinion, Bank of Israel Governor Prof. Stanley Fischer said Sunday during a press conference he convened to dispel rumors over the new Bank of Israel Law. Fischer said that the bank had no intention of presenting details of the law to the public before reaching an agreement with the Treasury and the government on a final draft. However, he said recent leaks "have led us to clarify precisely and unequivocally to the public what the Bank of Israel's position is regarding salaries." Last week, reports circulated in the Hebrew press that a deal was being formulated between Fischer, Prime Minister Binyamin Netanyahu, and Eyal Gabbai, the director-general of the Prime Minister's Office, to take away the supervision of central bank salaries from the Finance Ministry, making it easier for the Bank of Israel to set salaries for its employees.

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