News Brief

The Israeli government needs to intervene in the current financial crisis, former Finance Minister Benjamin Netanyahu said.

Netanyahu, opposition leader and Likud Party chairman, told Israel Radio Tuesday that the government should step in to save threatened savings accounts and trust funds and to help ease the coming financial recession.

As finance minister, Netanyahu’s policies favored small government. But he said that times of crisis are different.

“Even the best, most reliable car breaks down sometimes and needs to be fixed and put back on the road,” he said on Israel Radio, adding “Thanks to our financial policy, Israel’s situation today is good in comparison to other countries.”

Upon his arrival in Moscow for an official visit Monday, Prime Minister Ehud Olmert told reporters that there was no need for government intervention in the current economic climate.

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