Prime Minister Ehud Olmert, this afternoon  convened the heads of the coalition factions – ministers Ehud Barak, Eli Yishai, Rafi Eitan and Tzipi Livni, Leader of the Opposition MK Benjamin Netanyahu, Finance Minister Ronnie Bar-On and senior Finance Ministry officials, Prime Minister's Office Director-General Ra'anan Dinur, and officials from the Bank of Israel, Israel Securities Authority and the National Economic Council, for a discussion on ways to deal with the economic crisis.
 
Finance Minister Bar-On and officials from his ministry presented the main plans for dealing with the crisis and detailed the conceptual model for protecting pension savings.
 
Following the discussion, the ministers agreed the plans must be quickly approved, as proposed by the Finance Ministry.  MK Netanyahu said that he and his faction would support them in the Knesset.
 
Regarding the model for protecting pension savings, Prime Minister Olmert instructed the Finance Ministry, the Bank of Israel and the National Economic Council to work on the plan that was presented in order to reach a plan – already by the weekend – that will win broad consensus.
 
The ministers commended Prime Minister for convening the special discussion.  Leader of the Opposition Netanyahu said: "We will approve the plan that you presented because the last thing that is needed right now is a quarrel between us on an insubstantial matter.  This discussion was the right and proper thing to do."
 
Prime Minister Olmert said: "Indeed, it is difficult to distinguish among those present who is from the coalition and who is from the opposition and I am very proud of that.  We will begin by approving the plan presented by the Finance Ministry.  Regarding pension savings, I will hold further consultations, today and tomorrow, with ministers, Leader of the Opposition Netanyahu, Histadrut Chairman Ofer Eini and with Manufacturers Association President Shraga Brosh.  The urgency of such a plan is obvious, if one can judge by the attitudes of the ministers, Leader of the Opposition and the Bank of Israel, who expressed unequivocal support for the Finance Ministry plan to protect pension savings and indicated the need to make long-term decisions soon.  Today's discussion was professional and efficient and I am pleased that political and party disagreements were left behind, and that professionalism and the welfare of the Israeli economy were decisive."