The Israeli Central Bank by Maman Daniel;Rosenhek Zeev;

Author:Maman, Daniel;Rosenhek, Zeev; [Daniel Maman and Zeev Rosenhek]
Language: eng
Format: epub
Publisher: Taylor & Francis Group

So as to remove any doubt, Fischer and Stein added an explicit threat: ‘We hope that the government of Israel will submit its own programme based on these outlines and will not be forced to accept a plan dictated by the United States’ (1991: 2). For their part, Ministry of Finance officials stressed the need to pass the law in order to satisfy the demands of the American administration. After the bill had been submitted to the Knesset, Shalom Zinger, Director General of the Ministry of Finance, warned that any deviation from the budget framework would damage Israel’s chances of receiving loan guarantees worth US$10 billion from the American government (Maltz 1991b).17 Moreover, the Deputy Head of the Budgetary Division, David Milgrom, pointed out to the Knesset Finance Committee that Israel had made a commitment to the US to pass legislation aimed at ensuring budgetary discipline:

I want to present you with the fact that in our discussions regarding the guarantees with the American administration, when we were asked why we allowed ourselves such a high deficit, we said that it was because of immigration, but that we were committed to reducing the deficit over the coming years. I will not conceal the fact that a law of this kind would most definitely help the Israeli government in the matter of overseas loans.18

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.