Israel's new Finance Minister, Yuval Steinitz of the Likud, assumed his new position in a short ceremony at the Finance Ministry on Wednesday morning. “I was lucky enough to become Finance Minister under a Prime Minister who understands economics, likes the field, and has experience in it,” Steinitz said, referring to one of his recent predecessors in the job - Binyamin Netanyahu.
Steinitz is not fazed by those who say that Prime Minister Netanyahu, who named himself Minister of Economic Strategy in his new government, will actually run the Treasury from behind the scenes. “I view serving under Netanyahu as a great advantage,” Steinitz said.
Too Professional - or Too Frugal?
Minister Steinitz further said that he is “proud to receive a Ministry that is attacked for being too professional.” Critics responded that "too frugal" Finance Ministry officials actually view the national budget as “an end, rather than the means.”
“I plan to cooperate with all elements,” Minister Steinitz said, “including the Prime Minister’s Office, the Histadrut Labor Union, and the Industrialists Association.” Meetings have already been planned for Steinitz on Wednesday afternoon with Bank of Israel Governor Stanley Fischer and various top Finance Ministry officials.
Outgoing Finance Minister Roni Bar-On was not present at the ceremony, as he is on vacation. He will officially vacate his position in another ceremony next Monday.
Oslo Moved Him to the Right
Steinitz began his political career as a member of Peace Now, but his political views began to shift to the right when the Olso Accords were signed in 1993. A Likud Knesset Member since 1999, he has chaired several Knesset committees, including most notably the Foreign Affairs and Defense Committee. Before entering politics, he was a Senior Lecturer in the Philosophy Department of Haifa University, where he was twice elected ”Outstanding Lecturer.”