BREAKING NEWS

Israeli firm says costs too high on Iran strike

By REUTERS

NOVEMBER 10, 2011 15:38

A leading Israeli investment firm said on Thursday any military strike on Iranian nuclear facilities would exact an economic price too high for the world to accept, and as a result, it would likely acquiesce to a nuclear Iran.

A sharp rise in the price of oil, the costs of war and the damage to global trade would be too great and deter world powers from taking any serious action, said Amir Kahanovich, chief economist at Clal Finance, one of Israel's largest brokerage houses.

The assessment differed sharply from Israel's official position that Tehran's nuclear aspirations are unacceptable and that all options are on the table in preventing a nuclear-armed Iran, which it views as a threat to its existence.

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