BREAKING NEWS

PM boasts about Israeli economy amid Eurozone downgrades

By JPOST.COM STAFF

JANUARY 15, 2012 15:14

Following a recent Standard & Poors downgrade of nine eurozone countries' credit ratings, Prime Minister Binyamin Netanyahu bragged that just four months ago Israel received an improved credit rating from the same company.

Speaking at the beginning of the weekly cabinet meeting on Sunday morning, Netanyahu stated that "the Israeli economy stands out, positively, as a result of our responsible policy. We are not breaking the budgetary framework. We are upholding the first rule in managing an economy, whether of a family, a firm or a country; over time, one does not spend more than what one brings in, than what one makes. And if you did so, you make the correction gradually."

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