Israeli bank chiefs warned Prime Minister Benjamin Netanyahu of potential economic fallout from his government’s proposals for a sweeping makeover of the country’s judiciary Friday, as he said he was open to dialogue but insisted that he will not slow efforts to advance the judicial overhaul.
Netanyahu met at his Likud party’s headquarters in Tel Aviv with the heads of several of Israel’s largest banks and other businesspeople, seeking to push back against a growing chorus of warnings from top business leaders and senior economists.
Bank Hapoalim CEO Dov Kotler told Netanyahu that banks have started to see an outflow of funds in recent days, with various savings accounts being moved from Israel abroad.
“It’s still not on a dramatic scale but we are concerned this is the start of trend,” Kotler was quoted as saying by the Walla news site and Channel 12. READ MORE
