“The Trajtenberg Committee, which published its conclusions yesterday, managed to achieve the impossible. It kept its promises and issued a lengthy and impressive report that deals with many issues, within a mere 50 business days.

This is a serious report that on the one hand does not give in to populism, yet recommends making major economic and social reforms on the other.

The first important issue Trajtenberg decided on pertains to the budget and the size of the deficit. Despite heavy pressure both from within and outside the committee, the budget was not breached and the deficit was not increased.

It is hard to overestimate the importance of this decision in view of the crises in Europe and the United States, where they did overspend and increase the public debt. The result has been recession, unemployment and brutal cutback plans now being set into motion. We are fortunate not to have ended up in such a predicament.”

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