Israel Warns Moody’s: Crisis Risk Rises

Moody’s report on Israel sparked controversy. The report claimed that it increased the risk of a constitutional crisis in Israel. “We believe that the content of comprehensive government plans can significantly undermine the independence of the judiciary and disrupt effective checks and balances between the various authorities,” the report says. statements were included.

The report, which claims that the negative impact of judicial regulation on the Israeli economy has begun, notes that there are signs that Israel is moving away from global trends in the field of technology.

“Venture capital and investment from Israeli high-tech startups fell significantly in the first half of this year to $3.7 billion, the lowest figure since 2019,” the report says. expression was used.

NETANYAHU EXPLAINED

Israeli Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich issued a joint statement on the Moody’s report.

In a statement in response to Moody’s special report, “This is a momentary response; When things calm down, you will see that the Israeli economy is very strong.” the evaluation was done.

Recalling Israel’s export data, technological developments and investments in the country, the statement read: “Israel’s economy is built on solid foundations and will continue to grow under experienced leadership implementing responsible economic policy.” expression was used.

DISCUSSION JURISDICTION

The “judicial reform” announced by Israeli Justice Minister Yariv Levin on January 5 includes changes such as limiting the powers of the Supreme Court and the power to have a say in judicial appointments.

Prime Minister Benjamin Netanyahu announced on March 27 that he would postpone judicial regulation, sparking an increase in mass protests and strikes across the country, but announced that he would put judicial regulation back on the agenda after Parliament approved the 2023-2024 budget in late May.

The government had recently pushed the button for judicial regulation again after negotiations with the opposition stalled.

Thousands of Israelis, including fighter pilots, submarine officers and other elite troops, who opposed the government’s “judicial reform”, had decided to leave their volunteer reservists behind.

Names and various professional organizations holding high positions in Israel’s politics, military, security, economy and judiciary announced that they were against the government’s judicial regulation. (AA)