Israeli television reported on Thursday that several prominent business figures met with Justice Minister Yariv Levin and Finance Minister Bezalel Smotrich on Wednesday night to warn of the economic fallout from the government’s efforts to overhaul the judicial system.
According to Channel 12 news, the meeting at Levin’s office in Tel Aviv began on Wednesday evening and lasted until Thursday morning, with voices raised as the debate intensified.
Those attending the meeting included Fox Group CEO Harel Wiesel, Azrieli Group President Dana Azrieli, discount bank CEO Uri Levin, Electra Consumer Products CEO Zwika Schwimmer and Tanuva President Haim Gavrieli. Education Minister Yoav Kish was also present on behalf of the government.
The network quoted some business leaders as saying that Levin had expressed openness to join but declined their request to stall the legislative process.
Wizel was scheduled to meet on Thursday with President Isaac Herzog, who has been urging settlement talks, to discuss the matter further.
some of the attendees attended an equal meeting last month with Economy Minister Nir Barkat to express his concern over the shakeup, which he said was already having negative consequences on the economy.
Harel Wiesel, CEO of Fox Group. (Moshe Shai/Flash90)
Prime Minister Benjamin Netanyahu’s right-wing-religious coalition is pushing a series of far-reaching changes that would give the ruling majority control over the appointment of judges and allow it to shield legislation with the tiniest majority from high court scrutiny.
Critics – including economists, bankers, the tech sector, jurists and security personnel – say the overhaul will remove the judiciary’s role as a check on the power of the ruling majority and enable an assault on human rights. He also warned that the move would affect foreign investment and weaken the economy.
Several companies have already said they will pull their finances out of the country because of the upcoming legislation that the government is blasting through the Knesset.
Israeli tech unicorn Riskified said on Wednesday it would move $500 million out of the country and offer a limited number of relocation packages to interested staff members.
Rating agency Moody’s said the government’s proposals could undermine the country’s institutional strength and negatively impact its economic outlook.
