Fischer Cites Personal Reasons for Resignation


Governor of the Bank of Israel Stanley Fischer told the media on Wednesday that his decision to resign was due to personal reasons.

“I’m leaving mainly for personal reasons. Eight years is a very long time,” Fischer said, citing the difficulty of distance from his family.

Fischer and his wife will return to the U.S. to be closer to their children and grandchildren, according to The Associated Press.

During the press conference, he scotched the inevitable rumors that the real reason was political. Israeli media had speculated since Tuesday’s unexpected departure announcement that Fischer was aiming for a role as finance minister or foreign minister, or was leaving to protest economic policy.

“I do not have any plans. I do not have any job lined up. I do not plan on looking for a job until I leave, because I still have a job until the 30th of June,” he said, referring to his official departure date.

Addressing economic conditions, Fischer was encouraging. He asserted that the economic problems facing Israel — notably a $10.5 billion budget deficit —were exaggerated. Fiscal issues, he said, are clear problems with clear solutions, unlike the unknown difficulties Israel faced when the global economic recession hit in 2009.

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