The Iranian economy is on “the brink of collapse” and now is the time to
tighten sanctions, Finance Minister Yuval Steinitz told visiting
Italian Prime Minister Mario Monti Sunday night.
Steinitz and Monti, who serves as PM and as finance minister, discussed
the establishment of a fund to support bilateral industrial technology
cooperation. They also discussed Israel’s impending $1 billion purchase
of 30 Italian training jets, and potential Italian purchases of products
manufactured by Israel Aerospace Industries, Rafael and Elbit Systems.
Monti expressed interest in Israel’s two-year budget, saying that
European countries would examine the matter in a positive light,
especially given that member nations must now have their budget
procedures approved by the European Union.