Israel has done well to address this upcoming possibility of a Euro-zone meltdown. Certain EU countries have already voiced their concerns, in fact some have spoken, rather darkly of returning to their old traditional currencies. Speculation may well be rife,however contingency planning for a country, that relies on its export market to the EU, should well be carefully assessed, for Israel must heed the coming financial storm. Alternative markets must be sought and well secured, even though the Shekel may well become expensive and deter certain producers from gaining a competitive market share. Again, Israel must concentrate far more on its high tech market and not sell off start ups to the major players in the US, rather compete with full government backing in searching for contracts that are available through government resources. Even the government can issue export bonds to those companies, payable or negotiable after a certain period, that is to offset certain costs. China may well be charged by all and sundry for dumping cheap products, also having destroyed most industries such as textiles and manufacturing in Europe. However Israel is not China. Today in Switzerland, there are those that watch the rise and fall of the Euro as a sign of shaky times ahead. No doubt we will witness shrinking economies throughout Europe, with the exception of Germany, which is closely linked to Swiss Industry. The good times are certainly over, the US Financial Crises has finally hit Europe squarely between the eyes., recession will replace all the hard work by those that dream t of a stable Euro-zone. Good day from sweet Swiss Alps.
Two girls killed in head-on collision in Israel's north (Haaretz)
from the article: Exporters bracing for European meltdown