(Israel Government Press Office)

Three newspapers discuss the resignation of Bank of Israel Governor Prof. Stanley Fischer:

 Yediot Aharonot asserts: "There is no point in denying the truth and trying to put a pretty face on it: Stanley Fischer's departure from the Bank of Israel is a painful blow to the Israeli economy and a crushing blow to Netanyahu's next coalition, an expression of no-confidence in it, even if Fischer himself denies it." The author says that "Even though he has refrained from criticizing, Prof. Fischer was angry over Netanyahu's giving up on the current government's ability to pass the 2013 budget and pushing off the difficult decisions to the next coalition; for him, this was a sign of weak leadership."

Haaretz refers to the national economy’s dismal performance in 2012, which resulted in an astounding state budget deficit of NIS 39 billion and reports that bringing the 2013 budget into line would require deep spending cuts and tax hikes totaling at least NIS 5 billion, and wonders if Bank of Israel Governor Stanley Fischer’s decision to leave his post in June, two years before the end of his term, is not “a vote of no-confidence in [PM Benjamin] Netanyahu and [Finance Minister Yuval] Steinitz?” The editor asserts that whatever the true reason behind Prof. Fischer’s decision, “not only must Netanyahu put the treasury’s budget department back on track − he has to find a new Bank of Israel governor with a stature on par with Fischer’s.”

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Yisrael Hayom lauds Fischer's contributions to the Israeli economy during his eight years in office. The author says: "Now, as expected, the opposition will claim that his departure is a slap in the face to government policy, and the government will deny it," and avers: "It is clear that the Israeli economy is entering a period of difficulties and cutbacks, and it is a pity that he will not be there to navigate the central bank's fiscal policy."

Ma'ariv believes that "In the elections, the Israeli Right received a stinging slap in the face," but adds: "According to the signs, it seems that it has no intention of looking at the facts honestly and internalizing why and how." The author says that "The real reason," for "the collapse of Likud-Beytenu and the dramatic contraction of the right-wing bloc," which "it seems the Likud is refusing to acknowledge, is the ideological collapse and intellectual atrophy of all branches of the Right – religious and secular." The paper fears that "Right-wingers are liable to err and pin the reason for the results on a failed campaign and temporary circumstances," and warns: "If they do this, they will discover that the recent elections were only a warning light; they will receive the wake-up call in the next elections when they discover that even a good campaign and new presenters will not halt the trend of collapse."

The Jerusalem Post comments on Gerald Scarfe’s recent anti-Semitic cartoon in the London Sunday Times depicting “a monstrous Prime Minister Binyamin Netanyahu cementing the security barrier with the blood of victimized Palestinians,” and states: “Jew-revulsion now masquerades behind inflammatory anti-Israel and pro-Arab propaganda, whose disseminators inevitably deny anti- Semitism." The editor notes that “Rupert Murdoch, CEO of News Corp which owns The Sunday Times, has apologized for a cartoon he described as ‘grotesque,’ ‘offensive’ and unrepresentative of the newspaper’s opinions,” but adds: “Regretfully, though, the paper itself stood by Scarfe’s spurious spin-off of a malicious calumny that for centuries cost untold numbers of Jewish lives.”

[Sever Plocker, Dan Margalit and Erez Tadmor wrote today’s articles in Yediot Aharonot, Yisrael Hayom and Ma'ariv, respectively.]