Fischer: Impact of damaged trade ties with Turkey will be severe

Bank of Israel Governor Stanley Fischer addressed the diplomatic crisis with Turkey, saying that the implications of damaged trade relations with Turkey will be severe.

Fischer, who spoke at a regional cooperation conference in Tel Aviv, also addressed Israel's trade relations with the Palestinians: "They don't have great macroeconomic significance for the Israeli economy, but the trade between the two states has great political significance." (Avital Lahav)