Former Mossad chief Ephraim Halevy, who now heads the Shasha Center for Strategic Studies at the Hebrew University in Jerusalem, has voiced concern over the high salaries paid to senior bank executives in Israel and praised Bank of Israel Governor Stanley Fischer.
Halevy said, "Leading a military operation like the present war very much sharpens the line between a 'manager' and a 'leader.' In contrast to a 'manager' a 'leader' knows how to rise above the routine and the present, and perceive what will happen the day after the war. He determines schedules and ways out of the operation, examines himself, and that he is not locked onto a predetermined plan, while ignoring reality, stops to question assumptions, and has enough internal strength to absorb criticism."
"Globes" Israel is today experiencing economic and security crises. Which public figure is demonstrating exceptional leadership?:
Halevy: "If you are asking who in the political, military and economic system has shown preeminent leadership, it can unanimously be said that it's Stanley Fischer, Governor of the Bank of Israel. It's really very interesting to examine the dynamics of the man's image. Up to a year or two ago when the economy was flourishing and society was enjoying a period of plenty - the man was sinking in small and trivial matters. He was stuck in the muddy Israeli reality of work relations, engaged in political arguments and discussions with work committees. They said he was a foreign body. And suddenly, we hardly noticed it, he has become a shining star in the eyes of the public. He displays leadership and takes daring steps that are not orthodox from an economic point of view, and does it in an understated style. He reminds me of Teddy Roosevelt, who they said talked softly and carried a big stick. In other words, the economic crisis has undoubtedly highlighted the leadership of Fischer. His foreignness and all the infantile wars attributed to him have been forgotten and become negligible, in my opinion also because of the message that he sends out to the public that he really cares."
"Globes": The ability to generate confidence is a leadership trait?
"Absolutely right. To no small degree the collapse of the banking system in the US took place because the public lost confidence in the management of the banks, and the top managers there worried about lining their own deep pockets and their retirement bonuses. By the way, in contrast to assumptions, I'm worried about what is happening in the banking system here. Everybody says that Israel's banking system is stable and 'it is not America here' but let's not forget that in Israeli banks there are also gold-digging managers who earn 500 to 600 times their lowest-income employees. This is precisely not the behavior of leaders."
Published by Globes [online], Israel business news - www.globes-online.com - on January 6, 2009
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