Yesterday, I argued that the public statements of Bibi Netanyahu, Israel’s Prime Minister, do not add up. https://en.globes.co.il/en/article-netanyahu-legal-reforms-will-bring-more-growth-1001436534He claims on behalf of his judicial reforms – changes that will in all likelihood keep him out of many courtrooms – that they will enhance economic growth.

Maybe.

At a news conference last night, Netanyahu was flanked by his Minister of Finance, Bezalel Smotrich. The latter argued that “A billion lies will not become the truth. Israel’s macro data are fantastic due to consistent and good government policy.”

Good to hear, if true. What Smotrich did not realise – assumedly because of his complete inexperience – is that at least for now the current growth is due to the policies of the former government, but now in opposition!

Anyway, Netanyahu argued that the hundreds of economists who had signed a letter, asking him to reconsider his reforms were all supporters of the opposition. I suggest that is drivel – utter balderdash. Refer to the 9th Commandment, as I mentioned yesterday.

So just who has protested against these reforms to date?

1. Over 100,000 protesters turned up in Tel Aviv last Saturday, and many thousands more around the country.
2. Nobel Prize in Economics winner, Prof. Daniel Kahneman, was just one of those economists, who have rejected the reforms as a ‘disaster’ package.
3. Although Netanyahu suggested that Israel’s high-tech is safe, two local VCs have already transferred their funds overseas “there is no certainty that we can conduct international economic activity from Israel”.
4. A vast array of senior lawyers and former members of the High Court have made their position clear.
5. The forum of university chiefs have stated in a public letter that “As those entrusted with the research and education of the future generations of the State of Israel, we warn you that the proposed reform of the legal system could deal a fatal blow to Israeli academy,”.

I guess you could argue that this is all the talk of trendy left-wing intellectuals, struggling to maintain old times. In the words of Likud politicians who criticised the Attorney-General and others, these officials have over-stepped their mark. (That is often seen in some quarters as a soft euphemism for treason.)

But then let’s add one more grouping.

Sayeret MatKal is The Elite of elite groups in the Israeli army. Netanyahu himself served in the unit with distinction. His brother, Yoni, also served, tragically not returning alive from the infamous Entebbe raid in 1976.

Former members of this unit are planning a march from their army base to the Prime Minister’s office in Jerusalem.

Just another band of ungrateful has-beens, who don’t know their place in society?

The shekel has not collapsed. The Israeli stock market has not plunged. For now, Israel’s financial institutions do not represent the picture of London Summer 2022. However, the Bank of Israel has issued a stark warning, which has been publicly thrown in the bin.

What next, Mr. Netanyahu?