Itzik Alrov blames Governor of the Bank of Israel Prof. Stanley Fischer for the housing bubble.
Itzik Alrov, the leader of the cottage cheese boycott in the summer of 2011, is glad that Governor of the Bank of Israel Prof. Stanley Fischer has resigned, accusing him of being responsible for the housing bubble.
"During his tenure, Fischer acted for the sake of the banks' stability, and sabotaged households' financial stability," says Alrov. "Working for price stability and the narrowing of social gaps are part of the Bank of Israel's targets, but here the American Messiah failed big time. During his tenure, prices in the economy have soared and social gaps have only widened as the sacrificial lambs of the banking interests."
Alrov added, "The importance of people's standard of living has declined in favor of bloated diagrams and numbers that look good only on paper. On Fischer's watch, the human and Zionist dream of a roof in Israel dissipated for tens of thousands young men and women and became an unachievable dream. After eight years at the helm, Governor Fischer is returning to the arms of his beloved family in America. It is very sad that his Israeli family he is leaving with only dreams of an apartment and a healthy economy in a painful and devastating reality."
Published by Globes [online], Israel business news - www.globes-online.com - on January 30, 2013
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