The Likud made a mistake with the judicial reform, party MK David Bitan said at the Israel Bar Association’s 12th annual conference on Monday.
“There are members in the Likud who think so too, and [Justice Minister] Yariv Levin is trying to reach a compromise,” he said. “The Likud was harmed by this move, and it will continue to be harmed if we don’t reach broad agreements.”
According to the Likud, this is not a stance held by the party.
This isn’t the first time a Likud MK has spoken out against the judicial reform or the way it has been legislated. Other party members like Yuli Edelstein and Eli Dallal have made statements against the reform and the rushed legislation method.
While he believes that compromise is necessary for the reform, Bitan said that he isn’t optimistic about the possibility of widespread agreements because of disruptive factors on both sides.
The financial consequences of the judicial reform
Bitan added at the conference that if legislation of the judicial reform continued, credit rating companies would follow up on their threats and drop Israel’s rating.
View of screens showing falling stocks at the Tel Aviv Stock Exchange, in the center of Tel Aviv, December 23, 2018. (credit: MIRIAM ALSTER/FLASH90)Since the judicial reform was presented, credit rating companies have warned that the situation would lead to a downgrade in ratings. In April, Moody’s affirmed Israel’s rating at A1 but downgraded the outlook. The company then warned Israel again in July that continued legislation would have negative consequences on Israel’s economy.
Meanwhile, Morgan Stanley did lower Israel’s rating at the end of July.
As to what he thinks the government should be doing, Bitan said that it hasn’t been giving sufficient attention to other important issues that are not related to the reform.
“We could be dealing with a lot of things at the same time,” he said. “The cost of living needs to be dealt with. It’s not just on the government, but the government needs to change directions. It’s not doing its part. The responsibility is ours, and we need to give attention to the rest of the issues outside of the reform. Unfortunately, only some of us are working in other fields.”
Zachy Henessy contributed to this report.
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