Interest rates in foreign currency in Israel are always LIBOR plus. The plus could be negotiated, not so LIBOR that descended from Har Sinay (where God resides in a burning scrub). Now we are notified that LIBOR was not the sacred word of God but of a cabal of cheating goyische pirates. We (I mean all the world) were being robbed all the time. The Economist: The rigging of the LIBOR (London Interbank Offered Rate) betrays a culture of casual deshonesty. London as a financial center is kaputt.
What now? The money will look for a secure place and honest guardians. New York is the best, Frankfort is good, Singapur will take Asia. .