Finance Minister Netanyahu resigns in protest of pullout

[Speaker]

http://www.jpost.com/servlet/Satelli...=1123381242541

Finance Minister Netanyahu resigns in protest of pullout

Finance Minister Binyamin Netanyahu announced his resignation from the government Sunday afternoon in protest of Israel's plan to withdraw from the Gaza Strip and northern Samaria.

His resignation, which came during a Sunday cabinet meeting to approve the first step of the evacuations, did not succeed in torpedoing the vote. It was easily passed 17-5.

Netanyahu will hold a press conference Sunday evening at 6:00 p.m. to explain the reasons for his resignation.

The resignation will take effect within 48 hours of the time that he placed a resignation letter on the prime minister's desk, Sunday afternoon shortly before 4:00 p.m.

Netanyahu, a former prime minister and political hardliner, has long been conflicted over the Gaza withdrawal. He has voted in favor of the pullout in the cabinet, but tried to thwart the plan in parliamentary maneuvers.

Netanyahu's dramatic decision was unlikely to affect the disengagement. However, a number of Likud rebels expressed their hopes that Netanyahu's move will prompt a wave of additional resignations, which would ultimately lead to the government's collapse, Channel 1 noted.

Prime Minister Ariel Sharon said that the evacuation of settlements would continue as planned, Israel Radio reported.

The finance minister is considered Sharon's biggest political rival within the ruling Likud Party. He was expected to challenge Sharon for party leadership ahead of the next election.

The Tel Aviv stock Exchange's Maof index dropped 2.5 percent in six minutes following news of the resignation. Netanyahu had led efforts to streamline the Israeli economy, often adopting harsh measures in implementing his plan.

Meanwhile, Education Minister Limor Livnat announced she would vote against the first evacuation of settlements because of Sharon's decision to hold the second vote on settlement evacuations before the first settlement evacuation is completed.

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[Womble]

This is a disaster, and I am completely disappointed. Netanyahu was the best finance minister this country ever had, and I was hoping he would realize that the economic reforms he was working on are BY FAR more important than the pullout. Israel can exist without the Gaza settlements, but we cannot exist without strong economy.

The markets already smell trouble from Bibi's possible replacement, which will most likely be from the Avoda. The Tel-Aviv stocks plunged like crazy, MAOF dropped over 5 percent.

[Illuminatus]

Israel’s economy is now growing at 4.1% a year, according to “The Economist” magazine (Central Bureau of Statistics data).

“The Economist” indicates that Israel’s economy is heading upwards in the right direction.

Industrial output rose by an annualized 12.8% in April, the latest known figure.

Only two of the 25 emerging markets have higher rates of industrial output: Venezuela 28.2%; and China 16.8%.

You can thank Netanyahu.

[takeo]

Another step in the right direction, let's hope Likud breaks apart and the left will win the next elections. The absolute majority of Israeli are in favor of the pullout.
Industrial output isn't the responsability of the finance minister... Israel is recovering from an economic crisis, that's why current figures are high. Also I think the current Israeli better relations with Europe will increase export. (Europe being Israel's first and most important trade-partner)

[Womble]

Another step in the right direction, let's hope Likud breaks apart and the left will win the next elections.

Why would our small country need such a big trouble?

Industrial output isn't the responsability of the finance minister... Israel is recovering from an economic crisis, that's why current figures are high.

Israel is recovering because of Netanyahu's financial policies. When he was appointed minister of finances, the stocks went up sharply. Now when he resigned, they dropped just as suddenly. Bibi is an excellent economist who have single-handedly rescued the country from a major economic downfall. And you, my friend, don't have a clue.

[windowlicker]

didnt he say that he managed to pass all of the reforms during this small period of time? thats it, he did the work...

anyways, i hope sharon brings a true economist into the game, someone with experience in the field. not some dodo like peres, God forbid.

i also hope this move influences other likud members who are part of the government to leave right away. maybe then the pullout will be cancelled.

i will definitely vote for bibi if he God willing takes over the likud.

[atricnorth]

i was reading the cnn and bbc newscast. he is really good doing a " gesture" beside sharon. the israel insider picture was a good one too.

he looks a bit like "richard dreyfuss", a american jewish actor, the actor who played the scientist in jaws 1 if you observe correctly.

i am not too sure about ben's role in israelian economics, but what ever he did right, mazel tov.

" FOR THE FATHERLAND".

[Ghanbari]

I would support Binyamin Netanyahu as the prime minister of Israel!!!

[Gilgamesh]

Natanyahu resignation is a blizzard in a tea glass. (as the Hebrew saying goes).

From Sharon point of view, it's analogical to somewhere between the sting of a bamble bee and a mosqito.

From the right wing point of view, its an offical mark of Sharon's breaking from the right. Sharon and his crownies are considered to be lacking any ideology other then their private interests.

From Israeli democracy point of view, Bibi's resignation means the last stamp of proof, that Israel is really governed by a bunch of oligarchs, who show no interst in the poeple security, needs or honor. only their own money on the public expance.

[Mediocrates]

By Scott Shiloh (Arutz 7)


Share prices on the Tel Aviv Stock Exchange (TASE) dropped sharply on news of Finance Minister Binyamin Netanyahu’s resignation Sunday afternoon.

After a day of quiet trading, the resignation, announced at 3:50 P.M., brought a wave of hysteria to the stock market, bringing leading indexes down sharply.

The Tel Aviv 25 index dropped by 5.2% to 666 points, with shares comprising the Tel Aviv 100 losing 4.5% of their value by closing. Banking stocks were particularly hard hit, with Bank Leumi, falling by 5.2% and Bank HaPoalim by 6.26%.

Panic selling boosted turnover to NIS 1.17 billion, two thirds of which accrued during the last two hours of trading.

The shekel also took a beating in foreign currency markets. While there is no official currency trading on Sunday, the shekel lost 1.8% of its value against the dollar in options trading. A similar decline was posted in options trading against the Euro.

Shekel and cost-of-living indexed bonds also fell by over 1.4%.

Netanyahu’s tenure as Finance Minister has been credited with bringing Israel out of recession, controlling the deficit, and bringing much needed stability to financial markets. The Finance Minister has also been criticized as being too close to business interests and not sufficiently addressing the needs of Israel’s poor and unemployed.

[takeo]

Natanyahu resignation is a blizzard in a tea glass. (as the Hebrew saying goes).

From Sharon point of view, it's analogical to somewhere between the sting of a bamble bee and a mosqito.

From the right wing point of view, its an offical mark of Sharon's breaking from the right. Sharon and his crownies are considered to be lacking any ideology other then their private interests.

From Israeli democracy point of view, Bibi's resignation means the last stamp of proof, that Israel is really governed by a bunch of oligarchs, who show no interst in the poeple security, needs or honor. only their own money on the public expance.

The majority of Israeli don't share your view, which is very marginal in Israel and abroad. Ordinary Israeli don't consider the occupied territories as part of Israel and they don't care for the settlers, who choose to live there because they are ideological nutcases so don't have the right to complain now. I hope the government will crack down on rightwing extremists before they murder yet another politician and disrupt democracy in Israel. netanyahu is history I think (hope).

[Illuminatus]

Did you really expect a Saddamite from the Losing Left
understanding basic economics, let alone have a clue ?

^_^

[Mediocrates]

Of course you have to remember that there are 2 dozen key Israeli polticians filling out 2 dozen jobs and every once in a while they throw everything up in the air and change jobs. Unlike say England or France which have established almost neo-monarchical systems where the leadership is frozen in place for decades.

[takeo]

Did you really expect a Saddamite from the Losing Left
understanding basic economics, let alone have a clue ?

^_^

So according to you Sharon is a Saddamite?!? This are truly post-modern times: Bush helping a pro-Iranian fundamentalist regime in Iraq and Sharon being a "saddamite"... anything is possible apparently...

[takeo]

Of course you have to remember that there are 2 dozen key Israeli polticians filling out 2 dozen jobs and every once in a while they throw everything up in the air and change jobs. Unlike say England or France which have established almost neo-monarchical systems where the leadership is frozen in place for decades.

We don't have key politicians like Sharon or Rabin who are key-personalities since the 50's.. We also don't have a powerfull dynasty like the Bush dynasty... did you say neo-monarchical?