Getting stimulation measures through while cutting public sector pay will take all Katz and Netanyahu's political strength.
The downgrade in Israel's rating outlook will mean higher interest rates just when the government needs to borrow extensively.
In any case the government doesn't have the money for its share.
What the Governor of the Bank of Israel is afraid of, as Israel's political paralysis continues.
Analysts maintain that the composition of growth means that the Bank of Israel might still cut its interest rate.
Cutting ridiculous public spending doesn't require a Knesset majority or a new government. All it needs is a sense of responsibility.
In Israel, publication of the Bank of Israel protocols on the interest rate decision did not make waves, but the rest of the world attributed far more importance to them.