Netanyahu Hints at Dramatic Housing Market Overhaul, Blockchain Exploration

Prime Minister Benjamin Netanyahu has signaled a significant intention to dismantle the Israel Land Authority (ILA), a powerful body that controls the housing market. During an interview with Channel 10's Economy channel, when questioned about housing prices and the possibility of dissolving the ILA, Netanyahu did not dismiss the idea, stating, "Wait, it will come," and described the organization as a "big monopoly." He also mentioned efforts to release approximately 10% of public land from their control, but deemed it insufficient. Netanyahu's assertive tone towards the ILA was consistent with other statements made in the interview, including a firm commitment to "dismantle the agricultural lobby, unequivocally."

In a separate segment of the interview, Netanyahu revealed his consideration of blockchain technology as an alternative to the banking system in the event of extensive international sanctions against Israel. He confirmed that he had already requested a plan for this, acknowledging concerns about potential sanctions, including banking restrictions. He stated, "You need to organize an alternative economy. And you know what it is. You know what digital currencies are, and I am also working on that. And there are other things too."

Following criticism from the Bank of Israel regarding his remarks on blockchain, Netanyahu responded in an interview with Channel 14 on Saturday evening. He acknowledged the objections, stating, "I hear the objections, I take them into account. I have always received advice, much of it from the Bank of Israel." He defended his economic policies, citing his track record of leading Israel to unprecedented economic prosperity by breaking monopolies, reducing public sector waste, opening up private sector competition, lowering prices, and cutting taxes. He concluded by expressing gratitude for the advice but affirmed his commitment to continuing Israel's economic prosperity based on his own judgment.