Analysts are already saying that the strongest currency in the world is now the NIS (New Israeli Shekel).
Today (19 November), for the first time, the US dollar was quoted against the NIS at a ratio of about 1:3 (exactly: 1 US dollar for 3.0790 NIS), according to the Bank of Israel.
The Israeli Ministry of Finance revised the expected GDP growth: instead of about 5.5%, 7.1% is expected by the end of the year. The inflation rate for October is around 2.8%.
On top of these very good key data, the Bank of Israel reports astronomically high foreign currency reserves, as GLOBES reports: “Israel’s foreign exchange reserves have (…) risen to a record USD 217 billion, (…). The reserves are now far above the target of $110 million set by the Bank of Israel. The reserves are an emergency stockpile of foreign currency in the event of a crisis, such as war.“
Against the background of the ‘Awraham contracts’, which are having more and more positive effects, it is now time that the rather dilapidated infrastructure is finally rehabilitated, consumer prices are reduced, the cartel-like behaviour of some players is vigorously combated and more is done to protect the environment.
In the matter of the pandemic, Israel is once again proving to be a role model. In other areas, too, Israel is a role model or plays a leading role: Israel has the highest per capita density of successful start-ups and ‘unicorns‘ – private companies with a company valuation of more than 1 billion USD – and is in the same league as the USA in the field of science & start-up ecosystems.
Perhaps EU-Europe, led by Germany – which is massively destabilising Europe by reaching out to anti-Israeli dictators like Lukashenko and Erdogan and blithely allowing themselves to be blackmailed by them – would do better to learn from and cooperate with Israel instead of continuing to obstruct Israel and fund terrorist organisations seeking to destroy Israel.
The possibilities of an EU – Israel cooperation would be very great for mutual benefit, but EU-Europe and especially Germany has to stop lecturing Israel. Germany does definitively not stand on higher moral grounds or any higher grounds than Israel. Unfortunately, Germany still believes that it can act – for example – over the heads of Poland or Israel and make demands that affect their state sovereignty. In the case of Poland, borders are questioned, in the case of Israel the capital.; and borders too.
What does Germany’s political bureaucracy actually believe? How dare this political bureaucracy mock and disrespect democratic states in such a way? The German ‘Basic Law’ (Grundgesetz) does not apply to the world and the German office does not rule the world.
Many of the small EU states also no longer want this continued paternalism by Germany. The EU can also implode like the USSR once did. From Vienna to Warsaw to Athens, people seem to be aware of this and one can already sense the preparations for a plan B: re-founding the EU without Germany.
And Israel shows that it is possible to perform very well even as a small state surrounded by hostile terrorist organisations and in a permanent state of war. What excuse does the EU have?