Moshe Perl: This law crosses the line that no legislator should dare cross -for the Knesset to set prices.
Association of Banks in Israel executive director Moshe Perl lambastes the proposed bill to cap bank fees. "This law crosses all red lines that no legislator ever dared cross -for the Knesset to set prices."
Perl added, "Even natural monopolies are supervised by professional regulators. In the case of the current law, it was decided that the public, through its representatives in the Knesset, will set the prices. There is no difference between setting the price for bank fees by politicians and setting the price of a liter of gasoline, or the price of a telephone, or a cola by the Knesset."
Perl concluded, "There is no better way to turn us into Albania."
Published by Globes [online], Israel business news - www.globes-online.com - on July 23, 2008
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