Stanley Fischer has his hands full
Photo: Meir Fartush
Dear Stanley
It's all about politics, Gideon Eshet tells new Bank of Israel Governor Stanley Fisher
Hello Dr. Fischer,
Welcome to Israel. We are jealous of you.
At your age, you've been presented with an exceptional opportunity - embarking on a new career.
You should know, however, that you're an anomaly. In today's Israel those who are above 45 years of age find it almost impossible to secure a new job.
You came here, I suppose, because of professional considerations, in response to a proposal unavailable to you in the United States, but also because of the Zionism embedded in your soul.
If you exercise the best of your wisdom, knowledge and judgment, and manage to "convince" the Israeli job market that older employees are equal to, and often better than, the younger ones, you will justify every shekel paid to you.
Does Israel need immigrants? Not at all
I suppose that Jewish Agency representatives have approached you by now. If not, they will come soon.
They will tell you about your "rights." You're a new immigrant after all, you qualify for a tax-free car and fridge, and an absorption grant. But take a moment to think before you take advantage of those rights, because the moment you use them, you would not be able to address this matter in the framework of your job later on.
Does the State of Israel need immigrants? Not at all. Is it appropriate to encourage immigration to this crowded country? Certainly not. Is it fair to grant the Fischer family financial assistance? Most certainly not.
According to legend, the mafia used to elicit cooperation through threats. In American reality, however, the mafia used temptations. Yet you should resist the "new immigrant" temptation, politely reject the "rights," and set up a team that would check who needs them.
Should Israel adopt dollar?
On another front, it may be time to consider calling off our independent currency, the shekel.
There are two viable alternatives - the dollar and the euro. Monetarily speaking, there's almost no difference between the independent shekel, the dollar and the euro.
The only difference left is that normally the interest rate on the shekel would be higher than that on the other two currencies.
Is it worthy to keep the shekel for the sake of a marginally higher interest rate?
Not to mention that once we choose the dollar or euro, the government would be forced to seriously restrain its deficits. After all, you are a great believer in restraining government deficits and budgets.
Changing the currency is important not only for the economy. You and we both know that monetary issues are well taken care ,while you only have little influence on the government's priorities.
So let's get on to the most important thing: politics.
Israeli government speaks in 2 voices
A bad wind is blowing in your new country. A relatively sizeable group of citizens has decided the government and Knesset are illegitimate. Group members are planning to use force in a bid to prevent the implementation of policy and enforcement of laws.
Don't buy into the rubbish regarding a national referendum on the pullout plan - no referendum was ever called on the question of establishing the settlements in the first place.
On the other hand, scaling back government allowances happens here without a referendum.
Very quickly you'll discover the sated Israeli lacks the energy needed to protect democracy. The American Administration talks plenty, but is in fact indifferent to the Israeli-Palestinian conflict.
Meanwhile, the Israeli government speaks in two voices. Disengagement on the one hand, but nurturing the settlers on the other.
As it stands now, there is a chance, certainly not a slim one, that you would find yourself as the Bank governor of an entity that may be moving toward anarchy.
Where do you stand when it comes to politics? Perhaps you believe you're apolitical, or that in the framework of your public post you should be apolitical.
There is no such thing.
Think of how abolishing the dollar could contribute to the struggle against democracy's foes. Indeed, that way we'd move closer to the country whose currency we'd be adopting.
Think of how monetary equality between us and the Palestinians could contribute to resolving the conflict.
And think of the Palestinian who won't need to stare at the face of a great Zionist leader on his coins every morning.
