Due Diligence / One man’s deficit

12.07.2012                      22.Tammus. 5772


Due Diligence / One man's deficit

As the economic iceberg approaches, there is every worrying sign that our captain doesn't show much navigational fortitude.

There has been something eerily trivial about the debate raging over our fiscal policy. Should next year's deficit be allowed to float upwards to 3% of gross domestic product, as the cabinet voted at Prime Minister Benjamin Netanyahu's behest? Or should it be kept to no more than 2.5%, as the treasury mandarins and Bank of Israel governor Stanley Fischer were insisting?….