Clear and Present DangerGili Raanan: "Israel is a step away from becoming an anti-liberal state"
Clear and Present Danger
Gili Raanan: "Israel is a step away from becoming an anti-liberal state"
"Israel is a step away from becoming an anti-liberal state. The war on the rule of law certainly has a democratic interest, but the economic incentive cannot be taken lightly either, nor can the dramatic consequences these moves may have on Israeli industry.
"To this day, the vibrant Israeli democracy has provided the backbone for the thriving startup nation that has arisen here. The principles underlying the regime's system have prepared the ground for the growth of groundbreaking companies, and it is the economic support from a functioning government that has allowed the ecosystem to reach new heights. The alarming reforms that are now taking shape are putting the enterprise on hold. This is in real danger. A country where the rule of law is in doubt is a country that will have difficulty creating certainty for funds and entrepreneurs. Foreign investors, who were a significant catalyst in the local industry, will find it difficult to justify their activity in a country where the legal system does not enshrine civil rights and basic values. The political instability will soon permeate the routine of the business sector. Without acceptable legislation and enforcement mechanisms, many will think twice whether to build and invest in Israel.
"For years we managed to separate business from politics, but the latest developments require us all to take a stand against what appears to be a fatal blow to both the democratic character of the State of Israel, and the ability of the Israeli economy to continue to flourish."
Gili Raanan is the founder of the Cyberstarts investment fund.