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Economists' warning: capital smuggling from Israel has begun - voila! Of money

2023-03-02T08:40:51.990Z


The second warning of the economists: "Since the publication of the first opinion, many indications have accumulated that the damages to the economy may materialize with greater intensity and speed than we anticipated"


Demonstrations against the legal revolution.

According to the economists, the smuggling of capital out of the country has already begun (Photo: Avi Rokah)

The damage to Israel's economy could be sharp, fast and painful, at least according to the opinion of hundreds of economists, including world-renowned senior executives and experts, who sent another warning letter.



"In recent weeks, the first signs of capital flight are evident, which requires the Bank of Israel to continue raising interest rates at a rapid pace.



Even if the markets eventually stabilize in the short term, the experience gained from other countries where the independence of legal and economic institutions has been compromised, as well as economic research from the past decades , indicate that in the long term, long-term damage is likely to be caused to the growth path of the economy and the quality of life of the residents of Israel. It is not too late to stop the train before the abyss."



Among the signatories of the letter:



Prof. Jacob Frankel, Prof. Eitan Shashinsky, Prof. Manuel Trachtenberg, Prof. Marty Eichenbaum, Prof. Eugene Kendall, Prof. Nicole Adler, Prof. Omer Moab, Prof. Avishi Braverman, Prof. Zvika Eckstein, Prof. Ellis Barzis, Prof. Avi Ben Best, Prof. Udi Nissan, Prof. Danny Zidon, Prof. Michel Stravchinsky, Prof. Reuven Grunau, Prof. Rafi Melnik, Prof. Natan Zussman, Prof. Yossi Spiegel, Prof. Moshe Hazan , Prof. Itai Ater

  • Of money

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Tags

  • protest

  • reform

  • Jacob Frankel

  • Eitan Shashinsky

  • Eugene Kendall

  • Manuel Trachtenberg

Source: walla

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