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As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now
(JTA) — As much of the financial world increasingly eyes political developments in Israel with concern, a company that specializes in assessing investments based on social responsibility criteria made a special announcement Wednesday in which it declared Israel “a low-risk country.”
That designation is both a signal to investors that they are unlikely to get entangled in human rights abuses or other scandals if they put their money in Israel, and a reassurance intended for pro-Israel advocates who have accused the company of bias against Israel.
The announcement from the multibillion-dollar Chicago-based financial research firm Morningstar is the latest entry in a debate about how companies around the world should regard the Israeli-Palestinian conflict. One side says that Israel should be treated as regular Western democracy and the other says that Israel’s treatment of the Palestinians should put the country in the class of authoritarian regimes.
But another debate about Israel’s investment worthiness has emerged in recent months following the election of a new Israeli government led by Benjamin Netanyahu, whose slim parliamentary majority relies on the support of parties with far-right platforms.
Netanyahu, who is on trial for corruption, has vowed to overhaul Israel’s judicial system and rein in the independence of the courts. Many financial analysts consider a weakened judiciary a red flag for investors.
Sarah Wirth, a spokesperson for Morningstar, said that its analysis designating Israel a low-risk country does not yet account for recent developments in Israel.
“Some of the changes developing in Israel may impact their Country Risk Rating once we incorporate them into our analysis,” Wirth wrote in an email to the Jewish Telegraphic Agency in reference to the judicial reform plan.
The latest warning about Israel’s place in the global economy emerged Friday with the leak of an internal report written by JPMorgan, one of the largest banks in the world.
The report compared Israel to Poland, which passed a similar judicial reform in 2016 and saw a downgrade to its credit rating, which was a major blow because national credit ratings can either attract or drive away investments from abroad.
JPMorgan analysts wrote that Israel’s credit rating still “stands comfortably in the investment grade bucket” but that Netanyahu’s plan could cause it to go down.
The report adds to a warning by another Wall Street giant, Goldman Sachs, which said last week that the Israeli shekel could be affected by “growing concern over domestic political developments.”
“The five most recent elections over the past three-year period have had typically limited read-through to financial markets,” Goldman Sachs economist Tadas Gedminas wrote in a report. “This is not to say that the current situation could not have a more meaningful impact this time around, and we will closely monitor ongoing developments.”
Netanyahu has rejected criticism of his judicial plan by saying that the proposed reforms are being misrepresented by his critics and that they would merely bring Israel’s courts in line with courts in other Western countries. The plan would limit the ability of the Supreme Court to rule laws and government actions as unconstitutional, give the government control over the appointments of new judges and end the independence of the position of legal advisor across various government offices, among other measures.
Netanyahu has also said that regardless of the warnings by analysts, international investors are excited about Israel and eager to acquire equity in Israeli companies. His latest pronouncement came from France where he said he met with 60 local business leaders.
“What they’re saying about investors running away is nonsense,” Netanyahu said. “We want to increase our investments in Israel.”
Some of Israel’s own business leaders are concerned enough about the country’s direction that they are choosing to decamp. The CEO of tech company Verbit, which was valued at $2 billion in 2021, announced Tuesday that he would leave the country to avoid paying millions in taxes as a protest of the judicial overhaul plan.
“Over the past few years, I’ve paid tens of millions of dollars in taxes and my company has paid hundreds of millions in taxes,” Verbit CEO Tom Livne said on Israel’s Channel 12. He encouraged others in Israel’s vaunted tech sector to do the same.
Livne’s announcement comes about a week after two Israeli tech firms, including one that was valued at $3.7 billion in 2021, said they would withdraw assets from Israel for the same reason.
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The post As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now appeared first on Jewish Telegraphic Agency.
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Israeli ambassador meets with France’s Marine Le Pen, extending outreach to Europe’s far-right
(JTA) — Israeli Ambassador to France Joshua Zarka held a meeting on Wednesday with far-right French leader Marine Le Pen, marking the latest instance in a recent trend of Israeli outreach to Europe’s nationalist right.
The meeting, which was not publicly announced by either leader, was confirmed by the Israeli embassy to the French outlet Le Parisien. It was unclear what the pair discussed.
The meeting between Zarka and Le Pen, who is the former president of France’s far-right National Rally party, comes over a year since Israeli Foreign Minister Gideon Sa’ar announced that the country would lift its longstanding boycott of far-right parties in Sweden, France and Spain.
Israel continues not to engage with far-right parties in Germany, and Diaspora Minister Amichai Chikli, who has invited leaders of parties with a history of antisemitism to conferences he has organized in Israel, has cited the Alternative for Germany party as an example of one that had not adequately shed its antisemitic roots.
National Rally was founded as the National Front in 1972 by Le Pen’s father, Jean Marie le Pen, who frequently espoused racist and antisemitic rhetoric and was convicted of Holocaust denial in 1987.
The party has since tried to distance itself from its antisemitic history, with its current leader, Jordan Bardella, visiting Jerusalem last March for the country’s International Conference on Combating Antisemitism, where he delivered the keynote speech.
Diplomatic relations between Israel and France have soured in recent years, with French President Emmanuel Macron voicing public criticism of Israel’s conduct during the war in Gaza and formally recognizing Palestinian statehood at the United Nations General Assembly in September.
Last May, Le Pen shot back at Macron after he said during a television appearance that “what Benjamin Netanyahu’s government is doing today is unacceptable” and “a disgrace.”
“I find this statement unworthy of the President of the French Republic,” Le Pen responded. “He keeps increasing his criticism of Israel, perhaps because he is incapable of providing a solution to facilitate the fight against Islamist fundamentalism.”
While Le Pen has long voiced her support for Israel, last week she threw her support behind Macron’s proposal to include Lebanon in a regional ceasefire, which Israel has previously opposed.
“It is our country’s duty to protect Lebanon, its people, and its sovereignty,” wrote Le Pen in a post on X. “This country is once again a collateral victim of the tensions in the region, suffering massive bombings on its capital. I support France’s proposal to include Lebanon in the framework of the regional ceasefire.”
Israeli leaders have pushed back on Macron’s requests and refused to allow the country to be involved in direct talks between Israel and Lebanon, which was formerly a French mandate.
“We’d like to keep the French as far away as possible from pretty much everything, but particularly when it comes to peace negotiations,” Yechiel Leiter, Israel’s ambassador to the United States, told reporters earlier this week following ceasefire talks between Israel and Lebanon on Tuesday.
On Thursday, President Donald Trump announced that Israel and Lebanon had agreed to a 10-day ceasefire.
Le Pen has also been critical of the joint U.S.-Israeli strikes on Iran, telling Le Parisien last month that Trump “clearly did not fully appreciate the impact of his intervention.”
Le Pen is currently awaiting a July court ruling that will determine whether she can run in France’s presidential election next year, following her conviction last year for misusing European Parliament funds for political purposes.
This article originally appeared on JTA.org.
The post Israeli ambassador meets with France’s Marine Le Pen, extending outreach to Europe’s far-right appeared first on The Forward.
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Italian opposition leader Elly Schlein, whose father is Jewish, backs Giorgia Meloni in Trump split over Israel
(JTA) — Until this week, Giorgia Meloni, the Italian prime minister, was allies with Donald Trump and Benjamin Netanyahu and adversaries with Elly Schlein, Italy’s opposition leader.
Now, Meloni is at odds with Trump and Netanyahu, her fellow conservatives in the United States and Israel, and getting a boost from Schlein, a liberal whose father is an American Jew.
The causes of the breach: the U.S.-Israel war on Iran, and the pope.
Schlein threw her support between Meloni after Trump attacked her for defending Pope Leo XIV, who said on Friday that “God does not bless any conflict” and that Christians should never be on the side of those who drop bombs. The criticism triggered a strong response from Trump, who said on Sunday that the Catholic leader was “terrible on foreign policy” and accused him of “catering to the radical left.”
That did not go over well in Italy, where about three-quarters of people are Catholic. In a statement Monday, Meloni came to Pope Leo’s defense, calling Trump’s remarks “unacceptable,” and adding, “The Pope is the head of the Catholic Church, and it is right and proper that he call for peace and condemn all forms of war.”
The break between Trump and Meloni marked a notable public rift between the two leaders, as Meloni has long been one of Trump’s closest political allies in Europe. The rift deepened the next day, when Meloni announced that Italy had ended its defense agreement with Israel, marking another significant shift in the right-wing government’s international relations.
“In light of the current situation, the government has decided to suspend the automatic renewal of the defense agreement with Israel,” Meloni told reporters in Verona, adding, “When there are things we don’t agree with, we act accordingly.”
Trump wasn’t happy that Meloni had rebuffed his pressure to join the Iran conflict and said as much on Wednesday on Fox News.
“She’s been negative,” Trump said. “Anybody that turned us down to helping with this Iran situation, we do not have the same relationship.”
Enter Schlein and a rare moment of cross-party unity in Italy.
Schlein has led Italy’s Democratic Party since 2023. She has said she is “very proudly the daughter of a Jewish father,” the American-Italian scholar Melvin Schlein, and that she has faced antisemitism even though she herself is not Jewish.
Her father grew up in New Jersey and lived on Kibbutz Nahal Oz, one of the communities ravaged on Oct. 7, 2023, during the 1960s. He has joined his daughter in criticizing Netanyahu but told an Italian paper that while she believes in a two-state solution to the Israeli-Palestinian conflict, he does not. The relative of Jews murdered in the Holocaust, he also has said he is concerned about rising antisemitism in Europe — and that while he generally shares his daughter’s politics, he is concerned that some on the left have joined with the right in adopting antisemitic ideas.
On Wednesday, speaking in the Italian Chamber of Deputies, Schlein, said she wished to express her “strongest condemnation” of Trump’s “attack on Meloni for having dutifully expressed solidarity with Pope Leo.”
She also emphasized her own opposition to the Iran war.
“I want to reiterate that Italy is a free and sovereign country, and our Constitution is clear: Italy repudiates war.” Schlein said during her speech to a standing ovation. “No foreign head of state can allow himself to attack, threaten, or disrespect our country and our government. We are adversaries in this chamber, but we are all Italian citizens and representatives of Italians, and we will not accept attacks or threats against the government and our country.”
Schlein had welcomed the suspension of the defense agreement and called on Italy to “stop obstructing” the suspension of the Association Agreement between Israel and the European Union, which governs trade and political relations between the entities.
This week, a petition by the European Citizens’ Initiative to end the agreement reached the required 1 million signatures needed to trigger a formal review by the European Commission.
“We, along with other progressive forces, have been calling for this for some time, because the dignity of this country is also measured by its respect for international law,” Schlein said.
The Israeli Foreign Ministry dismissed the suspension. While Italy is the third-biggest arms exporter to Israel, following the United States and Germany, it only accounted for 1.3% of Israeli arms imports between 2021 and 2025, according to the Stockholm International Peace Research Institute.
“We have no security agreement with Italy. We have a memorandum of understanding from many years ago that has never contained any substantive content,” the ministry said in a statement. “This will not affect Israel’s security.”
This article originally appeared on JTA.org.
The post Italian opposition leader Elly Schlein, whose father is Jewish, backs Giorgia Meloni in Trump split over Israel appeared first on The Forward.
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Our pioneering Reform synagogue has shrunk, but remains as vibrant as ever
To the editors:
As President of Temple Beth-El of Great Neck, I read Lauren Hakimi’s recent article “A pioneering Reform synagogue makes way for a booming Iranian Jewish community,” with both appreciation and concern. While the piece captures certain facts, it presents our congregation primarily through the lens of decline and demographic change. In doing so, it misses an important story.
Yes, we are preparing to sell the building that has been our home for decades, and our membership is smaller than it once was. But Temple Beth-El today is a vibrant, diverse, and deeply engaged congregation. Even a cursory look at our calendar would have shown the depth and breadth of the activities — worship, study, Israel engagement, social action and adult education — taking place at TBE.
Size is one measure of a synagogue’s success, but it is far from the only one. Even on that front, this story is incomplete. The sale of our building is not simply a response to changing numbers; it is a strategic step that will allow us to align our physical space with our mission and ensure long-term sustainability. This is a story not of retreat, but of reinvention. Further, after the sale, Temple Beth-El will be one of, if not the, most financially secure synagogues on Long Island.
We are proud of our role in the larger Great Neck community, and we cherish our values more than any building. Temple Beth-El has long been a strong voice for social justice, as Hakimi notes in mentioning our past hosting Dr. Martin Luther King Jr. Today, we carry that legacy forward in our current work with interfaith food pantries and supporting undocumented immigrants.
These aren’t just social activities; they are religious imperatives. Hakimi notes that she herself received her COVID vaccine at TBE. When we opened our doors as a vaccine hub, we were not just providing a service — we were advancing our values by practicing the preservation of life for the benefit of our entire Great Neck family.
Finally, we are concerned that the reporter’s conclusion — “This is the most compelling thing anyone has told me for this story: that even Orthodox Jews benefit from having a Reform synagogue for a neighbor” — is misleading. We are proud to be good neighbors in a diverse community. But our purpose is not to justify our existence to others — it is to serve our congregants and all who seek a Judaism that is liberal, inclusive and engaged with the world.
Great Neck is not a zero-sum game of demographics, but a rich mosaic. Our synagogue’s commitment to a liberal, inclusive, and socially active Judaism is as essential to our town today as it was at our founding in 1928.
The post Our pioneering Reform synagogue has shrunk, but remains as vibrant as ever appeared first on The Forward.