Finance Minister Yuval Steinitz and Bank of Israel Governor Stanley Fischer are said to be close to a compromise regarding the control of the central bank employees' wages.
The sore subject caused a rift between the Bank and the Treasury. With Prime Minister Benjamin Netanyahu siding with Steinitz and ordering his office will supervise wages, speculations have risen as to whether Fischer – whose tenure ends in 10 months – will opt to continue on as governor.
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According to the suggested compromise, the Treasury will oversee Bank employees' wages, as it does all wages in the government and public sectors, but Fischer and other senior Bank officers will be able to appeal wage decisions on a case-by-case basis.
The sides have yet to agree on the body which would rule in these matters.
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