The consequences of the new Israeli law that limits the power of the judiciary

2023-08-02 18:23:11, Kosova & Bota CNA

In Israel, the consequences of the new law that limits the powers of the judiciary are already being felt. Thousands of Israelis say they will leave the country, while thousands of reservists say they will no longer serve in the army. Meanwhile, investors are also losing faith in the Israeli economy.

The effects of the new Israeli law to limit the power of the judiciary are already being felt. According to a recent poll, more than a quarter of all Israelis are considering leaving the country if the overhaul of the justice system goes ahead.

A day after the law was passed, a new group on the WhatsApp application called "Displacement Doctors" gathered about 3,000 members.

"Currently more than 1,000 doctors have begun to consider the possibility of moving to other countries. Others are planning to take unpaid leave, or to be laid off," says Hagai Levine, president of the Association of Public Health Physicians.

Army reservists have also joined the protest, who have begun to carry out threats to withdraw from volunteering.

The Israeli newspaper "Haaretz" reports that the course for helicopter pilots has been reduced, since almost half of the reserve instructors no longer go to teach.

"We know that in about 30 days the air force will have fewer skilled pilots than it had before," says Amir Bar Shalom, with Israel's army radio.

There are also economic consequences. Credit rating agencies, "Moody's" and "Standard and Poors" have warned that investors are losing confidence in Israel.

“The value of the shekel currency has fallen by about 17%, much more than could be predicted under normal market conditions. A big drop. Furthermore, since the election, the Israeli stock market has fallen sharply. Which means a loss of about 80 billion dollars. All this happened only during the adoption of a law", says Yannay Spitzer, professor of economics at the Hebrew University.

Many of the protest leaders come from Israel's high-tech sector. Analysts express concerns about the brain drain.

"Nothing worries me more than the prospect of emigration of our most talented young people. Those who keep Israel modern, democratic, who connect Israel to the wider world, to the global economy. These people are the backbone of the economy and the Israeli success story," says Yossi Klein Halevi with the Shalom Hartman Institute in Jerusalem.

A week after approving the first part of the changes to the judiciary, the Israeli parliament began its three-month summer recess. In September, the Supreme Court will hear arguments against the approved law. Prime Minister Netanyahu has refused to say whether he will obey the court if it decides to annul the law./ VOA