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Fischer: European economic crisis poses dangers for Israel

By JPOST.COM STAFF

MAY 5, 2010 15:57

Bank of Israel Governor Stanley Fischer said Wednesday morning that the European economic crisis poses dangers that could affect Israel. Fischer told the Knesset’s Finance Committee that the International Monetary Fund knew about the looming crisis but underestimated its severity.

Fischer said the IMF estimated the world economy would start to grow again this year, and that the US would be the first to rebound with a growth rate of 3.5 percent.

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