Netanyahu is under great pressure - but no one buys his spins anymore - voila! news

This week the linkage between the judicial coup and the state of the economy was completed.

A direct line runs between the two.

The spins of Prime Minister Benjamin Netanyahu will no longer help and every serious economist warns of the consequences of the legal reform on the economy.

Netanyahu is under great pressure.

A short time ago he convened an urgent press conference with increased ministerial economic power.

Its purpose is to calm, sedate and claim that the economy is not affected by the reform.

Foreign Minister Eli Cohen, formerly a senior manager at a credit rating company, was also invited to the event, with the aim of proving that everything is propaganda.

During the event, Netanyahu tried to deflect the fire from the legal coup with his best spins.

He talked about the "excess of legalization and regulation" although there is no connection between it and the legal coup.

He came back and tried to divert the arguments to historical stories such as the gas plan, buying medicine during the corona (despite the opposition of the Attorney General), the reforms he introduced in the early 2000s and contacts with the Palestinians.

This is spin at its best.

And of course it is impossible to avoid attacking the opposition, which he accused of making the Israeli economy stink in the eyes of foreign investors.

But Netanyahu forgot that just a year ago, live on television, he shamed the country's smell abroad. The immediate cause of the incident is an unprecedented letter sent today by 270 senior economists, including a Nobel laureate in economics, and his former senior economic advisor warning of the consequences of the legal coup of The economy. The day before, there was a charged meeting between the governor, Prof. Amir Yaron, and Netanyahu, during which the governor clarified the consequences of the legal coup on the credit rating in the economy. These illustrate the depth of the danger of the legal coup that they hide with washed-up words such as governance, strengthening of the High Court , the statute of limitations, the statute of limitations and the appointment of political judges.

The warnings translate immediately into money in economic terms.

So it is true that the concerns are not yet reflected in the stock indices and the shekel also strengthened against the dollar, but all this is temporary.

When the legislation is passed and in the meantime Netanyahu shows no signs of breaking, foreign investors will lift anchor.

Those that remain will require financial guarantees for the risk and a higher interest rate.

Investments will decrease, tax collection will decrease, GDP debt ratio will go back up and the interest rate will not decrease.

There is no doubt at all that over time the legal revolution will be felt in the pockets mainly of the underprivileged.

For now, this is not happening because it is still unclear what Netanyahu really means.

But the atmosphere and charged tension is palpable in the air.

At the moment the prime minister is in his prime, showing complacency accompanied by opacity, calling the criticism "spins" and claiming that the spitting is a blessing.

"By all indications, Israel's economy is proving to be strong," he said at the beginning of a Likud faction meeting this week.

"Investors say that with this government and this agenda we believe in Israel's economy. We lead a strong economic policy and we made a revolution. So don't let them preach to us with ridiculous spins."

And I still don't understand what "strong economic policy" Netanyahu is talking about, and what "tremendous economic revolution" we have made.

After all, the government has not completed a month yet.

With the exception of bluff plans to lower the cost of living, there is no economic policy and certainly not a strong one.

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