Fischer: Protests came as a surprise, economy is strong

Bank of Israel governor says economy is in a very good situation with lowest unemployment since 1987, but tent protests can't be ignored.

By JPOST.COM STAFF
August 1, 2011 10:46
1 minute read.
Bank of Israel Governor Stanley Fischer

Stanley Fischer speech at BGU 311. (photo credit: Dani Machlis/BGU)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

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."

Be the first to know - Join our Facebook page.


RELATED:
Kadima calls for 2012 budget to be canceled 
North Tel Aviv neighborhoods join tent protests 
PM: Protests have compelled us to change our priorities

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."

The Bank of Israel governor acknowledged the need for the government to find solutions for the concerns of Israel's citizens but warned, "We can't try to come up with solutions off the cuff in two days," adding that a smart plan of action must be thought out and formulated.

Fischer stated that teams must be formed to analyze the situation, suggest solutions and follow after the daily implementation of these solutions.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS