Fiscal discipline will be an integral part of any country's efforts to resolve debt problems, irrespective of the size of the nation's economy, a senior banker from Israel said at a recent symposium in Tokyo.
Joseph Bachar, chairman of Israel Discount Bank group, said Israel's lessons learned from its experience in dealing with its crisis in the early 2000s will be relevant for the current debt woes in the much bigger economies of Europe or the United States.
Bachar, formerly director general of Israel's Finance Ministry, was speaking at a symposium organized by the Keizai Koho Center on Oct. 15 to discuss the global economy and Mideast issues.