Finance Minister Yuval Steinitz said in an interview Saturday night that he did not fear any immediate repercussions for Israel from the debt crisis in Dubai, but that there could be "after-shocks." Over the weekend, Dubai said it wanted to reschedule payment of up to $80 billion in debt, sending world markets reeling.
"We are just coming out of the recession and at the beginning of recovery," Steinitz said. "Today everyone understands that the steps we took – the biannual budget, the 'package deal' with the Histadrut, and the rescue programs were what helped the country to recover."