Moody's Downgrade Sparks Controversy in Israel

Israeli economists and businesspeople criticized Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich for downplaying Moody's decision to downgrade Israel's economic outlook from positive to stable. The economists urged the coalition to shelve its judicial overhaul plan and come back to reality. Moody's cited the "deterioration of Israel's governance" amid the government's highly contentious effort, which critics warn will erode and even end Israel's system of checks and balances and its democracy. Weekly mass protests around the country against the government's plans to weaken the judicial system raged for the 15th week on Saturday night, despite the pause in the legislative process.