• maynarkh@feddit.nl
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    9 months ago

    Finance Minister Bezalel Smotrich angrily dismissed the decision. The announcement “reflects a lack of confidence in Israel’s security and national strength, and also a lack of confidence in the righteousness of Israel’s path against its enemies,” he said in a statement from his office.

    Why would a Moody’s rating take “the righteousness of Israel’s path” into account?

    • hark@lemmy.world
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      9 months ago

      He should be careful of what he wishes for because if they factored in “the righteousness of israel’s path” then the credit rating would be C.

    • FaceDeer@kbin.social
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      9 months ago

      Because it will impact them economically, of course. People are less likely to invest in a country that is at risk of being sanctioned, whether “officially” or via unofficial boycotts.

      • SlopppyEngineer@lemmy.world
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        9 months ago

        People working in Israel reported half their workers not showing up because they had been recalled to serve in the army. Stuff like that doesn’t help for business.

        • filister@lemmy.world
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          9 months ago

          They also revoked the work permits for hundreds of thousands of Palestinians, hence their agricultural and construction sector is struggling at the moment, and they need to import cheap labor force from other countries.

          Plus the way they handle this war nothing good would ever come out of it.