Wednesday, January 25, 2012

U.S. to extend Israel loan guarantees of 3.8 billion for 3 years

   The Obama administration has told Israel that it will recommend the U.S. Congress approve 3.8 billion in Israeli loan guarantees be extended for three more years. The Deputy U.S. Secretary of State and Deputy U.S. treasury secretary announced the U.S. decision in a meeting with the Israeli Deputy Foreign Minister.
  Some in Israel had worried the Israeli request for the extension might be denied. The U.S. usually does not turn down what Israel requests. In particular the Obama administration is not likely to alienate the Israel lobby during an election year!
     The two U.S. officials told the Israeli official that the extension of the loan guarantees until 2015 would receive wide support in both parties. The Deputy Foreign Minister said:The U.S. is a true friend and ally of Israel,". "The partnership between the two countries is a natural one. Extending the loan guarantees strengthens the international position of the Israeli economy and will allow the government to continue to raise funds at lower costs."  While this is true one would think that European countries in crisis such as Greece are much more in need of loan guarantees and lower costs for borrowing than Israel! For more see this article.

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