By Joel Leyden
Israel News Agency

Jerusalem, Israel --- August 14, 2011 .... Part of the following was communicated by the Israel Government Press Office to the Israel News Agency.

At the weekly Israel government Cabinet meeting today in Jerusalem, Israel, Prime Minister Benjamin Netanyahu made the following remarks:

"I have asked Prof. Manuel Trajtenberg to submit to the Israel Social and Economic Cabinet concrete solutions during the month of September, as quickly as possible, but not too quickly. We are dealing here with complex issues. We intend to arrive at concrete solutions, not generalizations, but rather concrete solutions to concrete problems for reducing the cost of living and the closing of gaps in the State of Israel, gaps including those between the periphery and the center. For that purpose we must receive recommendations which characterize choice. A change of priorities means a choice, a choice between various constraints."

Netanyahu added: "One of the central constraints for which Israel works under is the world economy. The world economy is presently experiencing a serious spasm. We will hear about it during the meeting from Israel Finance Minister Yuval Steinitz and Bank of Israel Governor Stanley Fischer. We know one thing: Israel wants to find solutions that are economically sound. For if we end up bankrupt or face economic collapse, a reality in which some of Europe's leading economies find themselves in today, we will not solve neither the economic problems nor the social ones. Therefore, responsibility is demanded of us, financial responsibility alongside social sensitivity. That is the necessary formula and Israel will bring about practical solutions."

"One of the practical solutions that we are presenting today, which has been discussed for many years is a reform of Israel high schools. I want to praise Israel Finance Minister Yuval Steinitz and Israel Education Minister Gideon Sa'ar as well as the teachers' representatives who today are bringing about a very large reform – "Oz L'tmora" in the high schools. This reform was born as a result of a large government effort in the field of education, which is expressed, among other things, in a very large reform in higher education, which already will be implemented and for which we will invest seven billion NIS over the coming years. These reforms reflect our desire to improve the entire educational system in Israel. We are already seeing the first signs of change that are starting to appear in test result trends. It's important, it's welcome and we will continue forcefully in this direction."

Israel Finance Minister Yuval Steinitz and Bank of Israel Governor Stanley Fischer briefed the Government Cabinet on the current events in the global economy and the aspirations of the Israel economy. Taking part in the briefing were also Israel Budget Director, Gal Hershkowitz and Accountant General, Ms. Michal Abadi-Boiangiu of the Israel Finance Ministry.

Tens of thousands of Israelis filled the streets throughout Israel yesterday for a fourth consecutive week, expanding their social protest movement against Israel's high cost of living.

Last week, more than a quarter of a million people turned out in Tel Aviv for one of the largest demonstrations in Israel history.

The protests originally targeted soaring housing prices but quickly evolved into a sweeping expression of rage against a wide variety of economic issues, including the cost of food, gasoline and education.

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