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President Herzog To Present Alternative To Judicial Overhaul Proposal


14:30 ET 18:30 GMT 20:30 IST: Israeli President Isaac Herzog will present an alternative to Prime Minister Benjamin Netanyahu's judicial reform proposal, a policy which prompted widespread protests in Israel and accusations from critics that the government intends to undermine the independence of the judiciary and fortify power in the hard-right wing of Netanyahu's coalition.

  • Erez Shachar, manger of one of Israel’s top investment funds said this week: “We had a silent agreement with the government: give us a liberal democratic country that allows us to build an innovation economy and we’ll leave you alone. We felt the rug pulled out. I’ve never been politically active before but there is no turning back.”
  • Bloomberg reports that the proposal has compelled an exodus of capital from Israel: "It is hard to pin down with any certainty just how much money has already left Israel. Some estimates are in the low billions of dollars. Riskified, an ecommerce company, announced last week that it is moving all of its $500 million in cash and equivalents out of the country."

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