While we are a wealthy economy, it is a mistake to compare ourselves to the US and Scandinavia all the time, where labor productivity is very high. It is important that we deal with all the challenges in education, the bureaucracy, infrastructure and more, in order to deal with the problem of low productivity.
The Supervisor of Banks headed a team that presented important conclusions regarding reinforcing banking competitiveness. Each time I would meet a senior banker from abroad, I would try to convince him to start banking operations in Israel. I didn’t succeed, and since 2008, I have stopped trying since the crisis led banks to stop expanding their operations overseas.