As for a public sector wage freeze, Yarom Ariav says, "We're not there yet."
"As far as I know, no bank in Israel is at risk of collapse," Ministry of Finance director general Yarom Ariav told “IDF Radio" (Galei Zahal) this morning.
In response to a question if the Ministry of Finance was planning a public sector wage freeze, Ariav relied, "We're not there yet. We're now trying to tell the public that although we're in a difficult position, the right way to deal with it is by staying calm. We must continue driving the economy."
Ariav added, "It's true that the business sector is suffering more and tightening its belt, and this could reach the public sector. However, we're not there yet. Our goal is to minimize the damage and to try as much as possible to take action and find solutions for the unemployed in order to minimize the damage, and, as much as possible, to minimize the rise in unemployment."
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2009
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