Stanley Fischer : Israel's economy will not suffer dramatic impact from US market crisis

Bank of Israel Governor Stanley Fischer said Monday that the crisis that hit the US market last week would not have a dramatic impact on Israel's economy. "At the same time, US real estate prices rose dramatically until the end of 2006 when the real estate market entered into a mini-bubble and prices started to fall in some areas in the US and so there are people who can't pay off their mortgages."