Netanyahu takes up finance

2003-02-27 23:45

Jerusalem - Outgoing Israeli Foreign Minister Benjamin Netanyahu officially accepted the finance minister's portfolio on Thursday after the prime minister agreed to his conditions for taking the post, public radio said.

Netanyahu had reportedly accepted the post on Wednesday evening, but the two parties met on Thursday afternoon to agree on the finance ministry's extended powers, the radio added.

Netanyahu replaces Silvan Shalom, who in turn takes the foreign ministry posting, after the hawkish former premier asked for the finance department's powers to be beefed up, including taking over authority of government companies.

He had transferred it to the prime minister himself when he became Israel's premier in 1996, and now wants it back to carry out a policy of privatisations.

Another major requisite satisfied by Sharon was Netanyahu's direct responsibility for the negotiations with the United States on loan guarantees.

Among Netanyahu's other demands were to head the socio-economic cabinet and be made interim prime minister, but Sharon reportedly has had to offer the position to Ehud Olmert as a consolation for not giving him a more senior portfolio than trade and industry.

- AFP