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  8/22/2012, Elul 4, 5772

Euro Breakup would Hurt Israel


If the euro area breaks up, it would likely hurt economic growth in Israel and lead to higher unemployment and less tax revenue. Such were the predictions this week at a conference in Maaleh Hachamisha attended by senior finance and banking experts.

If the euro collapses, Israel’s exports to Europe would drop by an estimated 8%. However, if Greece alone leaves the Eurozone, exports would drop by only 0.6%.