Fischer urges gov't to approve budget cuts
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Governor of the Bank of Israel Stanley Fischer has urged ministers to approve the budget cuts package: "A warning light has been lit," he said.
Fischer added: "If the global recession continues and we do not take immediate steps we may find ourselves with a 5%-6% deficit, the interest would rise, our international rating would plummet and we would be in a dangerous financial state." (Avital Lahav)
