Moti Bassok, Dafna Maor and Eytan Avriel, Haaretz Correspondents: Markets fear central bank's buy of dollars won't stop U.S. plunge
Talkback
Title: #11 S Name: Chris Linthwaite City: State:
So exactly why has Israel brought 100 million dollars on Wednesday and at least the same amount today? The value of the Shekel against the Dollar is reaching a threshold where Israel can no longer compete on the world`s markets. As Israel is closely tied to the US, Israel must feel the effects of the recession as the US is. Remember it does not matter what Israel manufactures, if nobody can afford it, nobody will buy it. And with oil over $100 a barrel there is not that much money left to spend anyway.