Ronnie Bar-On told the cabinet that there is no real cause for concern.
"There are no signs for serious concern at the moment," Minister of Finance Ronnie Bar-On told the cabinet today, as he commented on the global financial crisis. He rejected the Labor Party's demand, as part of the bargaining to join a government headed by Minister of Foreign Affairs Tzipi Livni, to increase government spending by 2.5% of GDP. "It would be wrong to deviate from the budget targets we've set. We must not open the budget in view of the global financial crisis."
Prime Minister Ehud Olmert told the cabinet that he met Bar-On and Governor of the Bank of Israel Prof. Stanley Fischer daily for updates on the global economy. "This is being carried out with the full knowledge of its importance," he said.
Published by Globes [online], Israel business news - www.globes-online.com - on October 5, 2008
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