CEOs of Banks Warn Netanyahu: Money Moving Out of “Israel”

Netanyahu met at his Likud party’s headquarters in Tel Aviv with the heads of several of “Israel’s” largest banks and other businesspeople, seeking to push back against a growing chorus of warnings from top business leaders and senior economists.

Bank “Hapoalim” CEO Dov Kotler told Netanyahu that banks have started to see an outflow of funds in recent days, with various savings accounts being moved from “Israel” abroad.

“It’s still not on a dramatic scale but we are concerned this is the start of trend,” Kotler was quoted as saying by the Walla news site and Channel 12.

Channel 12 and Ynet, citing unidentified sources, reported that the intense backlash to the planned overhaul has surprised and disturbed Netanyahu, who had hoped to pass changes without bringing on such widespread condemnations and high-profile opposition from numerous leading figures.

The reports said Netanyahu had also wanted to avoid becoming the face of the sweeping reforms, as his ongoing criminal trial ostensibly precludes him from involving himself directly in issues that could influence his affairs.

The reports said the manner in which Levin has handled the issue so far had caused tensions with Netanyahu. Likud in a statement rejected such assertions, saying the minister had the premier’s full support