Analysis || Israel's much-criticized new budget may revolutionize ultra-Orthodox society
The new 2013-2014 budget is harsh, but offers hope for the future, and may change Israel forever.
In late June 2002, Israel’s bond market started to collapse. Government bonds lost 7% of their value within a month, and Israel’s 10-year government Shahar bonds were trading at a high yield to maturity of 12.5% − a sign that investors believed the government was increasingly fiscally unstable.
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