Israel's government minister Naftali Bennett said that speculations about boycotts happening to the nation's economy is 'absurd.' However, other national officials do not think similarly.
Recent reports stated that an international economic boycott of Israel is occuring due to allegations of occupation. European banks are reported to have recommended their constituent institutions to bar Israeli loans, targeting companies with ties to Palestinian territories.
An Israeli newspaper described this exodus as "the mother of all fears," "an economic tsunami", and "a nightmare scenario."
Haaretz's editorial piece regarding the international boycott said, "The magnitude of the danger this poses to the Israeli economy is hard to overstate. A European economic boycott of those with any connection to the occupied territories would be very broad."
"As a result, Israel is facing its moment of truth. Is it prepared to pay a steep economic price for its continued occupation of the West Bank and for its diplomatic inaction? Is it ready to pay the price of the government's refusal to work for the establishment of a Palestinian state, to which Prime Minister Benjamin Netanyahu committed back in 2009, with the economic implications that such a boycott entails?" questioned the Israeli newspaper.
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