On video: hundreds of thousands demonstrated across the country (photo: Reuven Castro, Avi Rokah, Uri Sela)
Smotrich (Photo: Niv Aharonson)
About a thousand Israeli graduates and faculty members at the world's 20 leading business administration universities issued an unprecedented warning: 'The Treasury's warnings from last week are already being realized - the damage to the economy has already begun, and some of it may be irreversible' Among the signatories: Chen Amit, CEO of Tipalti,
Prof. Dan Arieli, researcher at Duke University, Lilach Asher-Topilsky, partner at Fimi and former CEO of Discount, Meir Brand, vice president and executive at Google, professors from Stanford, Wharton and Chicago universities - and even classmates of Benjamin Netanyahu from MIT University.
From INSEAD in France to Stanford in California, from LBS in London to Harvard in Boston - the graduates who hold key positions in Israel and around the world, call for an immediate halt to the legislative processes and warn that the damage is not future or theoretical: "The assumption that the economic damages will begin only after the final approval of the reform is wrong A lot of damage to trust in Israeli companies has already happened in the last few weeks and it must be stopped immediately."
The graduates elaborate that the proposed reform causes a high level of instability and thus deters investors.
Against the background of gloomy predictions by senior officials of the Ministry of Finance for hundreds of billions of shekels in damage to the Israeli economy in light of the legal reform and further to the warnings from the Minister of Defense, Galant - this week about a thousand business administration graduates from the 20 leading business administration programs in the world, together with Israeli faculty members who teach in them, To warn that the damage in question has already begun and is being felt in the field.
For the full letter click here
just the tip of the iceberg.
Demonstration in Tel Aviv, March 25 (Photo: Reuven Castro)
Graduates of the leading programs, including Stanford, Wharton, MIT, Harvard and INSEAD universities, are writing an open letter to the Israeli government and warning: "The legal reforms are undermining the pillars on which Israel's business success rests."
Among other things, they point to a dramatic damage to the ability to raise funds, recruit personnel, and export to the countries of the world.
Many of the graduates, who lead the activities of global companies in Israel, even report a reduction in activity and investments in the country, in light of a decrease in confidence in the Israeli economy.
The letter states that "the Ministry of Finance's estimates may be only the tip of the iceberg, and we are already experiencing the alarming trend on our own at an increasing rate. The damages will affect small and large companies, technological and traditional. Companies will close and workers will lose their source of income. The impact will be felt by all citizens of Israel, for generations ".
The initiators of the letter express deep concern that the current measures may collapse in a few weeks the trust in the Israeli economy that has been built over many decades.
"The economic damages are piling up and we have no tools to prevent them if the process continues" they add.
The signatories of the letter, graduates from all ends of the political spectrum, many of whom have risen to the top of the economy in the economy, believe that the reform in its current configuration puts Israel's economy in real danger.
They issue a call to Prime Minister Netanyahu, himself a graduate of the MIT School of Business Administration: "We all love Israel and say with one voice: stop the legislative processes, carry out professional staff work and hold an in-depth dialogue with all parts of Israeli society before such a fundamental change in our regime system ".
career and higher education
Ministry of Finance