Protesters in the streets of Tel Aviv

Thousands of people marched in the streets of Tel Aviv and other Israeli cities last week to protest the rising cost of living in the Jewish state. In response to the demonstrations, sparked by soaring housing costs, Prime Minister Benjamin Netanyahu announced the formation of a panel of government ministers and economic experts to draw up a plan to reduce prices.  But Netanyahu was also cautious not to raise hopes too much – especially in light of the drop in Standard & Poor’s ratings for the loan guarantees Israel obtains from the U.S. “We cannot take all the lists of problems, and all

the list of demands, and pretend we will be able to satisfy everyone,” he said.  “We need to be fiscally responsible, while making some socially sensitive amendments.”