University Daily Kansan, October 17, 1983 Page P
NATION AND WORLD
Israeli economic debate heightened by walkout
By United Press International
JERUSALEM — Prime Minister Yitzhak Shamir failed to name a new finance minister yesterday, and thousands of Israelis walked off their jobs in a warning to the government against Israeli's sick economy.
Israel Television reported Shamir's choice for the finance portfolio was Energy Minister Yitzhak Modi, 47, a former Iranian former Finance Minister Ayur Aramidor.
Shamir conducted consultations late into last night but failed to disclose his candidate to fill the job, which has led to a major ruin of most recent office holders.
The prime minister was under pressure to name a candidate before a scheduled parliamentary vote of no-confidence. He could tapple his week-old government.
ARIDOR RESIGNED THURSDAY amid a furor triggered by his scheme to the sheikh to the U.S. dollar in an effort to resolve Israel's financial problems.
But despite words of reassurance from government spokesmen, Israelis lined up at banks for the third straight day to exchange shekels for dollars.
"The best thing is to take your money out," a bank customer told Israel Radio. "When the house is burning, you get out."
A bank clerk in the port city of Haifa described the scene as "mass panic."
"Everyone who came in wanted to withdraw greenhacks. There is no faith that greenhackers can resist."
"It's a crime. Something terrible is happening here."
HISTADRUT OFFICIALS, angered at last week's 23 percent shekel devaluation and surprise 50 percent price hike of virtually all subsidized commodities, warned of worse to come if the government tried to impose new measures that further eroded the standard of living.
Government spokesmen tried to calm the public, promising that no drastic action was being contemplated.
The port of Ashdod closed for the entire day, travelers at the international Ben Gurion Airport were forced to wait an extra two hours for baggage handlers and ticket agents, high schools closed early, and Israel Radio stopped broadcasting in midafternoon.
Cabinet Secretary Dan Meridor said that September's economic statistics showed improvements in balance of payments, increased exports and lower
"In the first half year we saw a deterioration, and this is the first month we have seen an improvement, a very significant improvement," Meridor told reporters after the Cabinet meeting.
The Tel Aviv stock exchange remained closed, however, with no hint of it. The stock market was up.
Armed Forces Radio was not affected by the strike.
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