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Protests Continue As Judicial Reforms & Palestine Clashes Raise Temp
Major protests continued in Israel on 1 March as the country experiences its worst internal political divisions in years. Dozens were arrested as police fired stun grenades at protesters blocking the main Tel Aviv-Jerusalem highway in a 'day of disruption'. The escalating crisis risks political stability and has already seen a backlash from the business community and foreign investors.
- Notable violence has erupted in the West Bank involving Palestinians, Jewish settlers, and Israeli soldiers in recent weeks, with an escalating cycle of tit-for-tat attacks and reprisals resulting in settlers rampaging through the Palestinian village of Huwara. Major General Yehuda Fuchs, who commands the Israeli military in the area, called the actions of the settlers "a pogrom carried out by outlaws."
- The violence in the West Bank acts as another wedge between the country's traditional, religious Jewish community and more liberal professional classes. The right-wing coalition gov't of PM Benjamin Netanyahu is overtly dominated by parties representing the former group rather than the latter.
- The judicial reforms are backed by many religious conservatives, who view the supreme court as an institution of a liberal elite doing damage to Israel's Jewish heritage and overruling elected officials. Opponents view the reforms as an effort to end key checks and balances on the gov't, risking the erosion of democracy in the country.
- The gov't retains a comfortable majority in the Knesset, meaning its collapse or the defeat of any legislation is unlikely. However, Israel could continue to experience continued social unrest in the coming months. This is notable the case as the Muslim holy month of Ramadan approaches in late March and the Jewish Passover holiday takes place in early April. Religious tensions can often flare up during these holidays, risking broader unrest.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.