Israeli Officials to Mull Steps to Offset Euro Crisis

Officials will meet to discuss the possibility of Europe's economic crisis affecting the Israeli economy.

Senior Finance Ministry officials will be meeting Tuesday with other government representatives to discuss measures to be taken should Europe's economic crisis could affect Israel's economy.

A key topic is the impact of an exit by Greece, sudden or gradual, from the euro zone, and the impact on Israel of a breakup of Europe's common currency zone.

Officials will also discuss how such an eventuality could affect the global economy, including its impact on the United States and emerging markets, including its impact on global trade and the capital markets, and how this would affect Israel. Israel exports 18.5 billion euros annually to the euro zone.

The gathering, which will take place at the guesthouse at Kibbutz Ma'aleh Hahamisha outside Jerusalem, will include representatives of the Bank of Israel, the Prime Minister's Office and the Industry, Trade and Labor Ministry.

Among those in attendance will be Supervisor of Banks David Zaken and the head of the National Economic Council in the Prime Minister's Office, Eugene Kandel.