Friday, July 3, 2009

Central Bank chief: Worst of economic crisis behind Israel

Haaretz, By Tal Levy (2/7/2009) Record gains in the financial markets are a sign that Israel has braved the roughest stretch of the economic downturn, Bank of Israel Governor Stanley Fischer said on Thursday. "We've passed the worst point of the global financial crisis, which was at the end of 2008 and the beginning of 2009," Fischer told an economic conference in Eilat. "The second quarter was the best quarter for the stock markets in the last 20 years." "When economic history will be written, people will say that this was the most serious case of economic panic since the Second World War, and in terms of the financial markets this was more complicated and more dangerous than that which transpired in the 1930s," Fischer said... Click here for full story

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