Wednesday Dec 12, 2007
Posted by David Anthony
Israel's currency, the New Israeli Shekel (NIS), was upgraded by Standard & Poor's last week for the first time since 1995. What does this mean for the Hi -Tech Economy?
It was Harry S. Truman that once said "Give me a one-handed economist! All my economists say, on the one hand...on the other [hand]." Truman's expression is exactly how I feel when I think of the pros and cons of the NIS currency upgrade Israel received last week. On the one hand... there are many long-term advantages to having a strong Shekel rating and an internationally-validated economy. On the other hand...there are some short term effects of such a change that could have long-term ramifications.
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