Israeli Finance Minister Steps Down

TEL AVIV —  Israel’s popular finance minister angrily resigned Wednesday after the Cabinet approved a currency liberalization plan he opposed.

The plan to ease government-imposed exchange rates and allow the Israeli shekel’s value to fluctuate more freely was backed by Prime Minister Benjamin Netanyahu, who said he regretted Dan Meridor’s decision and insisted that he gave him “all the backing possible . . . even when I felt he was not fulfilling his role 100%.”

Political commentators, however, gave support to Meridor’s argument that Netanyahu, rather than differing over currency, had “ulterior motives” and had forced the minister out in a well-orchestrated campaign to consolidate his hold over the Likud Party.

“There was no reason to bring this issue [to the Cabinet] today,” Meridor said. “When it became clear to me that there were ulterior motives for this whole affair, I informed the ministers and the prime minister that I intend to resign from the government.”

Meridor is the second Likud minister to quit since Netanyahu formed his government a year ago. The first was Science and Technology Minister Binyamin Begin, who left after the Cabinet approved a partial Israeli troop pullback from the West Bank city of Hebron.