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January 30, 2014 10:32 am

Israeli Finance Minister Lapid: Failure of Peace Talks Would Bring Economic Crisis

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Yair Lapid on CNN. Photo: Screenshot.

Times of Israel – A boycott of Israeli products by European countries, in the event that peace talks fail, would constitute a dramatic blow to the Israeli economy, Finance Minister Yair Lapid warned on Wednesday, in an address at the Institute for National Security Studies conference.

Based on an evaluation prepared by the Finance Ministry’s chief economist, Lapid said that even a low-scale boycott would “hit every Israeli citizen directly in his pocket.” The cost of living would rise, and education, security, health, and welfare budgets would be slashed, he said.

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