Top economic aide: With right policies, Israel avoided Greece’s fate Just a decade ago, says Professor Eugene Kandel, the Israeli and Greek economies were on a par. Not anymore.
Is there a lesson for Israel in the Greek tragedy playing out in Athens? There is, according to outgoing National Economic Council Chairman Prof. Eugene Kandel.
“Long-term fiscal credibility is a critical component for any economy,” Kandel told ministers at Sunday’s cabinet meeting. Over the past decade especially, he said, Israel has been a model of fiscal stability, as it has cut its public sector, reduced debt, and — most importantly — encouraged foreign investments.