The Dollar Reacts

On the way to a compromise: the dollar reacts to the contacts between the parties

Following the publication of the coalition's proposal to freeze the legal reform and leave the committee for the selection of judges, the dollar recorded a drop and stood at 3.779 NIS, after the reports of disagreements it returned to trading around 3.80 NIS 

(Credit: Shutterstock)

Following yesterday's reports about the contacts between the coalition and the opposition and the proposal submitted by the President's Office with the Prime Minister's consent, the dollar recorded a sharp drop of 0.8% and reached 3.779 shekels. However, gradually, following reports of the Justice Minister's disagreement and various coalition parties' reluctance to compromise, the dollar reached the level of 3.80 shekels and then it returned to 3.79.

This morning, Justice Minister Yariv Levin was interviewed on Kol Barama radio and stated that the new proposal cannot be accepted. He also added, "There is no change with Prime Minister Netanyahu regarding the reform issue; it is a commitment we have had for a long time. There is no need to be influenced by rumors; I have the backing of the Prime Minister."

Yariv Levin (Photo: Yonatan Sindel/Flash90)

The coalition's agreement to freeze the reform

Yesterday, the contacts between the coalition and the opposition regarding judicial reform were reported. According to the reports, the coalition proposed leaving the committee responsible for selecting judges as it is and only making a change in the required majority for selecting judges. The proposed change would raise the required majority from 7 to 9, not just for selecting Supreme Court justices but for selecting judges at all levels.

It was also reported that as part of the plan, all legislation will be frozen for six months and changes will be made to the law to reduce the Clause of Reasonability that has already been definitively passed.

Likud denied the reports and said: "The publications are not true and there was no agreement."


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