The wave of layoffs was at the center of a special recess discussion at the Knesset on Wednesday. Yet only 25 Knesset members were in attendance, the majority of which were from the opposition.

Opposition Leader Shaul Mofaz (Kadima) criticized Prime Minister Benjamin Netanyahu stating: “Netanyahu knows how to make promises.” He then went on to use various metaphors to denounce Netanyahu and his economic strategy.

08.29.12, 14:02–”With Netanyahu life is one big picnic,” Mofaz claimed. “According to his conception, our situation has never been better – a real Bibi in wonderland.”

Deputy Finance Minister Yitzhak Cohen responded on behalf of the government and said: “The global economic crisis that broke out at the end of 2008 is felt here as well. The developed economies have yet to recover… Israel registered a high growth rate. The Israeli economy developed at a higher rate than the US or Euro bloc countries.

“In addition to the growth rate, there were also positive developments in the job market. Unemployment rates are at their lowest historically speaking.”

Cohen further said that the current situation in the EU could lead to another global crisis and obligates responsible fiscal conduct. As a result of the crisis the State’s income from taxes was down and the deficit surged.

The Knesset plenum convened under the headline of “the deteriorating economic situation in Israel under Netanyahu’s government,” after a request submitted by MK Dalia Itzik (Kadima)…Read More>>

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