Fischer: Sanctions won't collapse Iran's economy

October 23, 2012 13:18

Governor of the Bank of Israel Stanley Fischer on Monday expressed doubt that economic sanctions against Iran would lead to the collapse of the Islamic Republic's economy.

In an interview with US-based CNBC, Fischer said that while the Iranian economy would "continue to go down," the regime likely would "find a way to continue to keep economic life going."

Fischer did say that sanctions could have a political impact in Iran and that "what happens next depends on how [Iranian] authorities deal with" their worsening economic predicament.

He also said that the Bank of Israel was preparing for all sorts of eventualities, including war with Iran.

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