Netanyahu offers to help Olmert combat financial crisis

Opposition Leader Benjamin Netanyahu met with Prime Minister Ehud Olmert on Thursday and offered the government the Likud's support for a financial plan which would provide a safety net for pension and retirement funds.

Netanyahu, who held a brief impromptu press conference in Jerusalem after the meeting, did not disclose Olmert's response, and refused to take any questions.

"The global financial crisis is threatening those how have savings in pension funds, and we have to act quickly on the matter. I met with the prime minister and offered him our cooperation in order to provide these funds with a safety net.

"Let me remind you that I did a similar thing when I was the finance minister," continued Netanyahu. "We pumped NIS 80 million (approx. $20 million) into retirement funds. We have to take similar action and we have to do it fast. There is no coalition or opposition when it comes to this matter. We have to work in order to secure people's savings and in order to create more jobs."

Olmert's advisor, Jacob Galanti, confirmed the meeting: "The prime minister hopes for cooperation with the Likud, which would bring about the financial welfare of Israel… We hope this collaboration will materialize prior to the election, since there is no time to waste.

"All the details will be coordinated by the Bank of Israel and the Treasury, in accordance to the prime minister's promise to protect the public's savings."

The Prime Minister's Office further said that is was Netanyahu who asked for the meeting, adding that "the prime minister believes that we should collaborate with any political element wishing to do to, in order to deal with the global financial crisis and implement the government's plan in a was which will ensure the financial future of the Israeli public."

Roni Sofer and Amnon Meranda contributed to this report