Financial System Preparing for Iran Strike, Says Fischer
Bank of Israel Governor says the financial system is preparing for an Israeli strike in Iran and a resulting downturn in the economy.
By Elad Benari, Canada
First Publish: 8/10/2012, 11:46 PM
Bank of Israel Governor Stanley Fischer said on Friday that the financial system is preparing for an Israeli strike on Iran’s nuclear facilities and for a possible downturn in the economy which may result. Speaking to Channel 2 News, Fischer said, “The primary responsibility of each country is to maintain its security. It is possible to describe situations of widespread war which would be very difficult to deal with. We are preparing for a major crisis and for security situation which is much worse.”
During the interview, Fischer also addressed the pressing economic issues at hand, especially the economic measures recently approved by the government. These include a tax hike and across-the-board budget cuts for government ministries. “Netanyahu and Steinitz are working in a measured way,” he said, praising the work being done by the Prime Minister and Finance Minister. “Most of the taxes will be imposed on the relatively higher levels of society, and much less on the poor and middle class.”
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