Greece's voters have resoundly rejected the bailout progam that was proposed by the EU. What are the implications of this?
Both Greece and Israel have about the same amount of average salary for its workers. But Greece's retirement age is set at 57, and in Israel it is set at a higher age, 62 for women and 67 for men. For more information go here: Retirement Age in Israel
Israel has a history of "Austerity," where people have the culture to make do with what you have and not to buy more than the money you have. Remember the 1950's? The collaspe of the Shekel, and the introduction of the NIS? Each time Israel bounced back and although the NIS is not the most stable, it is holding its own against the Euro and the Dollar. The Euro was 4.7 back in May and today I checked it at 4.18. NIS to the Euro.
Israel has a highly educated workforce, both from local universities and from the large influx of immigrants from Russia, France and the USA. Local wages are lower, which attracts foreign investors, Yes, jobs can be hard to come by, especially if you live in the outlying areas, and in Jerusalem. But with the new bullet train due to operate between Jerusalem and Tel Aviv, the prospect of living in Jerusalem and working in Tel Aviv will get much better.
Netanyahu's long time policy of deregulation has benefited Israel's economy, which opens up competition for the benefit of the consumer.
Greece has had a problem with investor flight, as it's economy has remained stagnent.
Maybe Greece can take a page out of Israel's book to see how to recover in the long term from economic problems.
Rachael Alice Orbach
For more information go to: http://www.pmo.gov.il/English/MediaCenter/Spokesman/Pages/spokeKendel050715.aspx
Both Greece and Israel have about the same amount of average salary for its workers. But Greece's retirement age is set at 57, and in Israel it is set at a higher age, 62 for women and 67 for men. For more information go here: Retirement Age in Israel
Israel has a history of "Austerity," where people have the culture to make do with what you have and not to buy more than the money you have. Remember the 1950's? The collaspe of the Shekel, and the introduction of the NIS? Each time Israel bounced back and although the NIS is not the most stable, it is holding its own against the Euro and the Dollar. The Euro was 4.7 back in May and today I checked it at 4.18. NIS to the Euro.
Israel has a highly educated workforce, both from local universities and from the large influx of immigrants from Russia, France and the USA. Local wages are lower, which attracts foreign investors, Yes, jobs can be hard to come by, especially if you live in the outlying areas, and in Jerusalem. But with the new bullet train due to operate between Jerusalem and Tel Aviv, the prospect of living in Jerusalem and working in Tel Aviv will get much better.
Netanyahu's long time policy of deregulation has benefited Israel's economy, which opens up competition for the benefit of the consumer.
Greece has had a problem with investor flight, as it's economy has remained stagnent.
Maybe Greece can take a page out of Israel's book to see how to recover in the long term from economic problems.
Rachael Alice Orbach
For more information go to: http://www.pmo.gov.il/English/MediaCenter/Spokesman/Pages/spokeKendel050715.aspx
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