Specter of Euro Collapse Spurs Emergency Plan: Israel Overnight

Israel’s government is preparing for a possible collapse of the euro region, the destination for about 30 percent of its exports and a source of tourist revenue, Finance Minister Yuval Steinitz said.

“We cannot deny the possibility” that one or more major members of the euro zone will exit the bloc, Steinitz, 53, said in an interview yesterday at Bloomberg’s headquarters in New York. “If the euro zone will disintegrate, that’s a whole new crisis. We have an emergency plan in the worst case scenario.”