Fischer, Steinitz attend nat'l economic forum for emergency

By NADAV SHEMER
June 22, 2011 06:20

Attendees of the forum discussed economic consequences of a disaster situation, and plans for recovery the day after.

1 minute read.



Congratulatory moment.

economy. (photo credit: Miriam Alster / Flash 90)

The national economic forum for times of emergency was held Tuesday in the presence of Finance Minister Yuval Steinitz and Bank of Israel Governor Stanley Fischer, as part of the week-long nationwide civil defense drill “Turning Point 5.”

Participants included Home Front Defense Minister Matan Vilna’i (Ha’atzmaut), Tel Aviv Stock Exchange chief Ester Levanon, Histadrut Labor Federation Chairman Ofer Eini, and other business leaders and senior IDF commanders.

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During the forum attendees discussed the economic consequences of a disaster situation, and plans for recovery the day after.

“It is up to us to develop out readiness for each emergency situation that can happen, and to minimize the economic damage,” Steinitz said. “The next war will be similar to those scenarios we have encountered until now. The strength of the market has grown, but so have its sensitivities, and we are to plan accordingly. We must enable the market to continue to operate, to enable citizens to continue to go about their daily lives as much as possible, to attend to the supply of cash, food and the arrival of workers to the job place – all of which are essential in a time of emergency.”

Fischer called the meeting an important piece of cooperation between government and business leaders.

“At a time of crisis it is important to safeguard the open market and to allow the market forces to operate, just as we do now.”

As part of the week-long exercise, two sirens are scheduled to sound off around the country on Wednesday, one at 11:00 and one at 19:00.

Yaakov Katz contributed to this report.


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