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Netanyahu says opposition to judicial reforms will harm the economy

The Israeli prime minister said opposition to the judicial reforms being considered by the government coalition in Israel will turn off investors and harm Israel’s economy.  

The lack of support for the Israeli government by the opposition, as a whole, will weaken the shekel and cause investors to rethink where to put their money, Netanyahu said.

Despite warnings from members of well-known corporations, the high-tech industry and financial firms, that judicial reforms will adversely affect the character of Israel, the prime minister placed the blame for weakened confidence in Israel on his political rivals who he said are bitter about losing the Nov. 1 election.

“It’s not pleasant to lose elections, but you don’t need to channel this bitterness into harming the Israeli economy,” he said. 

In response, Yair Lapid, former prime minister and the present opposition leader, referred to an ongoing investigation against Netanyahu for “breach of trust” and other charges that have yet to stick, as prompting the prime minister to be “bitter.”

“It’s not fun to be a defendant in criminal cases, but you don’t need to turn the bitterness into the destruction of Israel’s democracy and economy,” Lapid said. 

There have been recent reports that business owners are moving money from Israel to other locations amid stoked fears of major changes in Israel’s long-held democratic values. 

Anti-government and anti-reform protests continue on weekends – drawing crowds as large as 180,000 – and during the week, with hundreds of high-tech workers protesting for the second time in 16 different locations throughout the country. 

Placards read, “Save our startup nation,” “No balances – no checks,” and “No freedom, no hi-tech.”

The All Israel News Staff is a team of journalists in Israel.

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