New Governor for Bank of Israel

Prof. Michael Bruno of the Hebrew University will be the next Governor of the Bank of Israel, the Cabinet decided Sunday.

The decision ended a lengthy debate between the Alignment and the Likud on the manning of the position. The Alignment wanted Deputy Finance Minister Adi Amorai to fill the position, but since the Likud refused, Premier Shimon Peres decided to stick to his commitment not to create a controversy with the Likud over the appointment–since this position is one of the key positions which must be filled by mutual agreement, according to the coalition agreement.

The office was offered to Bruno last Sunday by Finance Minister Moshe Nissim. Bruno accepted. But in the meantime, Peres was faced with a strong demand by the Alignment Knesset caucus to go ahead and appoint Amorai.

Sunday morning, Peres won. In a telephone conversation with Nissim, the two men agreed to go ahead and appoint Bruno. The matter was brought for approval by Bruno. Nobody was opposed. The appointment still awaits the official seal of President Chaim Herzog, probably later this week.

Nissim asked Herzog to complete the appointment procedure as soon as possible, because the central bank has been operating without a head for the past week. The outgoing Governor, Dr. Moshe Mandelbaum, left the country on vacation.

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