As Purim approaches, thousands of Israeli children and families grapple with poverty
JERUSALEM – Expect to see new rounds of protests by Israeli investors and consumers against financially strapped business leaders and supermarket chains and food conglomerates that have raised prices drastically on basic foodstuffs over the past few months.
The frustration among local investors and consumers comes against the backdrop of a slowing Israeli economy, which is feeling the effects of the economic turmoil within the European Union. According to financial sources, the Israeli economy, which grew by nearly 5 percent last year, will grow at a rate of less 3 percent in 2012.
Israeli economists have speculated that the resignation of Bank Leumi CEO Galia Maor, who announced on Monday that she was stepping down after 17 years at Israel’s second largest bank, was a telltale sign that the Jewish state’s economy was entering a period of uncertainty.
In just the past few weeks, leading Israeli financial publications reported that local and foreign business owners in the EU owe tens of billions of dollars to Israeli banks including Bank Hapoalim and Bank Leumi. Bank of Israel Chairman Stanley Fischer has assured the Israeli public that local banks were fiscally sound despite the outstanding debts.
But Israelis are growing increasingly impatient and angry with moguls such as Yitzhak Tshuva (Delek Corporation), Ilan Ben-Dov (Tao Tsuot Ltd./Partner Communicatons) and Yossi Maimon (Ampal Corporation), who’ve lost billions of shekels through bad investments and have asked public and private corporate bondholders to forgive large portions of their debts.
An increasing number of Israelis who’ve invested in corporate bonds and stocks have threatened legal action against the tycoons unless they invest large sums of their personal money to cover their debts and agree to cease using corporate monies to provide stratospheric salaries and other perks to business associates and family members.
Meanwhile, prices on basic foodstuffs such as mayonnaise, tea, ketchup, tuna fish and soup mixes at major supermarkets such as Shufersal, Mega and Rami Levi have risen between 60 and 150 percent since the end of the Rosh Hashanah/Sukkot holiday season in October.
Bnei Brak social activist Yitzchak Alrov, who last summer spurred a nationwide protest against skyrocketing cottage cheese products via a simple Facebook campaign, is working with student leaders and other social justice activists to orchestrate another boycott unless the supermarkets and food conglomerates substantially cut their prices.
About the Author:
If you don't see your comment after publishing it, refresh the page.
Comments are closed.
US Ambassador to the UN Samantha Power tells AIPAC on Monday that America “will not allow Iran to obtain a nuclear weapon. Period.”
“Today, we are no longer silent; today, we have a voice. Tomorrow, as prime minister of the only Jewish state, I plan to use that voice.”
Former Consul Alon Pinkas charges Prime Minister Netanyahu is “injecting Israel into the American political arena – he loves doing that.”
Want to know who are the Bibicotters and how you can tell them what you think?
Prime Minister Binyamin Netanyahu told a packed room at AIPAC on Monday the US-Israel alliance is “sound.” But on Iran: “No one makes alliances with the weak,” he warned.
IDF soldiers, reservists and local security units participated in a massive training drill in the town of Efrat, Gush Etzion, reenacting an infiltration of terrorists into the settlement, on March 02, 2015. The IDF’s central command called a surprise training exercise in the West Bank to test reservists’ alertness and to prepare for the possibility […]
I’m not going to get into timetables. It will happen.
American like Netanyahu by a 2-1 margin, with Obama probably in the minority.
Girls, ages 10-13, from Efrat in Gush Etzion will square off against girls from the Galilee Arab village Sakhnin tonight in a playoff game that will determine which group will advance to the semi-finals in the girls’ league. “We are involved with soccer and not politics,” one of the Efrat girls said. “We really want […]
Jew Wars: Episode 7 – Revenge of the White House
The suspect denied he knew he was sending Hamas material that could be used to kill him and his neighbors.
The PA plans to destroy Israeli products found in Arab-owned stores, but the Arab population will probably just buy them from Rami Levy instead.
He told CNN ‘God gave the US military power” that should be used to stop genocide.
As of Tuesday, all IDF forces operating in Gaza withdrew and redeployed to holding positions around Gaza.
The sophisticated cement tunnels, which cost hundreds of millions of dollars, were reportedly built with Qatari government funds.
Israeli Prime Minister Benjamin Netanyahu told the nation on Tuesday afternoon that if the rocket fire did not stop by Tuesday evening, he would order “an even harsher” military response.
“They were abducted and murdered in cold blood by human animals,” Netanyahu said shortly after the bodies were found.
Awad had been released as part of the Gilad Shalit kidnapping deal. Mizrachi’s widow, Hadas, told Israeli reporters that she had opposed the release of murderers as part of any kidnapping deal, and that Awad “deserved the death penalty so he wouldn’t kill again.”
If the abductors’ goal was to force Israeli authorities to release long-serving Palestinian prisoners, the effort backfired as Israeli forces are quickly rolling up what was left of Hamas in the West Bank and are reportedly contemplating the overthrow of the Hamas leadership in Gaza should harm come to the three teenagers.
Printed from: http://www.jewishpress.com/news/israel/angry-israeli-investors-consumers-gearing-up-for-new-protests/2012/01/04/
Scan this QR code to visit this page online: