Fischer: Protests came as a surprise, economy is strong

August 1, 2011 10:36


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Bank of Israel Governor Stanley Fischer on Monday addressed protests against the high cost of living in Israel, saying that " the latest developments came as a surprise, at least to me and i imagine to most people."

Speaking during a press conference at his office in Jerusalem, Fischer said he was surprised by the sweeping protest movement because "there were no clues or signs before hand." He added, "As far as economic indicators are concerned, the economy is in a very good situation, with the lowest unemployment rate since 1987."

Fischer said, however, that "it is impossible not to take note of the fact that 150,000 people took part in demonstrations on Saturday and it's impossible not to note what is happening in in tents in cities across the country.

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