BoI, Treasury in 11th-hour Talks on Law

Top people at the Bank of Israel and Finance Ministry met yesterday in a last-ditch effort to reach common ground on the new Bank of Israel Law. Prime Minister Benjamin Netanyahu has given the central bank and ministry until Monday to reach an accord. If they don't, the prime minister threatens, he will hand down binding decisions about key issues in dispute. In parallel with the officials' meetings, Eyal Gabai, director-general of the Prime Minister's Office, continued his efforts to mediate between the parties. The Bank of Israel and ministry disagree on three main areas: whether the treasury should have veto power over central bank salaries, the composition of central bank's monetary council, and professional issues.