The National Labor Court will today consider the crisis in the banking system, against the backdrop of threats by workers committees to strike the banks and the Tel Aviv Stock Exchange.

The labor dispute in the banking system was declared in response to the report of the Bachar Committee, which recommended that the banks be forbidden to provide provident and mutual funds, in an effort to boost competition in the capital market.

The workers committees are threatening to close all banks branches to the public in light of the government's decision to raise the Bachar Committee's recommendations for a first reading in the Knesset on May 16.

According to the chairman of the Clerks Union, Leon Morozovsky, implementation of the Bachar Committee's recommendations would weaken the banks in relation to other financial bodies and lead to the dismissal of some 4,000 bank employees.

Finance Ministry officials reject Morozovsky's arguments, saying that implementation of the recommendations would not lead to the dismissal of bank employees but rather result in the recruitment of additional workers, in light of the fact that the banks would be able to enter new areas such as the marketing of pension plans.

The Histadrut labor federation is calling for talks aimed at guaranteeing employee rights.