Prime Minister Ehud Olmert decided to appoint Minister of the Interior Ronnie Bar-On as the next Minister of Finance. After a night of deliberations at his home in Jerusalem, Olmert decided to go with his advisors, who said that after the public storm surrounding Attorney General Menachem (Meni) Mazuz's decision in the affair involving President Moshe Katzav, MK Haim Ramon's appointment to the Ministry of Finance would raise sharp public criticism and his chances in the High Court of Justice were slim.
Olmert is expected to appoint Ramon to the position of Vice Premier, in the place of Shimon Peres, who will take the position of the president. Ramon will also be given the position of a Minister in the Prime Minister's office with political responsibilities. Additionally, Ramon will fulfill a central role in the rehabilitation of the Kadima political party, and as a member of the political-security cabinet.
With Bar-On's entry into office, at the age of 59, after four months without a full-time Minister of Finance, he will have to deal with several urgent matters. These include the 2008 budget deliberations, the across the board ministerial office budget cuts, the Histadrut (General Federation of Labor in Israel) strike threats and preparation of the tender for the acquisition of Bank Leumi (TASE: LUMI), which is due to be held in the coming months.
Published by Globes [online], Israel business news - www.globes.co.il - on July 2, 2007
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