’Israel’ Finance Minister Warns of EU Boycott

Local Editor

"Israeli" Finance minister warned that the European Union is considering canceling its association agreement with Tel Aviv.

Yair Lapid said on Wednesday that canceling the association agreement with the EU, "which we know is already on the table now," would reduce exports, cut the GDP and cause 1,400 layoffs.
A cancellation of the agreement, which was signed in 1995 and went into effect in 2000, would be an enormous step backward for "Israel"- EU ties.

Preferential trade ties with the EU, participation in cultural and scientific bodies, the recently approved Open Skies Agreement and other important treaties fall under the framework of the association agreement.
"There has been absolutely no consideration in the EU of the abrogation of the association agreement," it said. "It is not in the cards."

Most of his speech on Wednesday focused on the repercussions of a boycott.
"If negotiations with the Palestinians stall or blow up and we enter the reality of a European boycott, even a very partial one, the "Israeli" economy will retreat, the cost of living will rise, budgets for education, health, welfare and security will be cut [and] many international markets will be closed to us," he said. "If there will not be a political settlement, the "Israeli" economy will face a dramatic withdrawal that will substantially hurt the pocket of every "Israeli"."

Some "Israeli" media have reported that a European Union delegation has already denied any plan to cancel the association agreement over the failure of talks with Palestinians.

Source: News Agencies, Edited by website team