Israeli opposition leader Gadi Eisenkot on Saturday accused Prime Minister Benjamin Netanyahu of being “no longer fit” to lead the country, warning that his proposed economic preparations for potential international sanctions could threaten Israel’s financial stability and national security.
In a post on X, Eisenkot, leader of the Yashar party, accused Netanyahu of turning his attention to “dismantling the Israeli economy for generations ahead” after, as Eisenkot alleged, weakening Israeli society and the military.
He described Netanyahu’s recent remarks as “conclusive proof that he has lost touch with reality and moved into a world of delusions”, criticising what he portrayed as preparations to disconnect Israel from the global financial system.
“This is the madness of a man who is no longer fit to lead the country,” Eisenkot said.
His comments followed Netanyahu’s announcement that he had requested an economic plan to prepare Israel for possible international economic and banking sanctions. The proposed measures include exploring alternative payment methods involving cryptocurrencies and blockchain technology.
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Netanyahu expressed concern about the possibility of sanctions targeting Israel’s banking system. However, he did not announce plans for Israel to withdraw from the global financial system; the prospect of economic isolation was central to Eisenkot’s criticism.
Netanyahu has also warned that US military assistance cannot be expected to continue indefinitely, urging Israel to prepare for a possible end to the aid and strengthen its independent defence capabilities.
Eisenkot Mocks Proposal as ‘Bibicoin’
Eisenkot ridiculed the proposed financial strategy by calling it “Bibicoin”, combining Netanyahu’s nickname, Bibi, with the idea of using cryptocurrencies as an alternative financial mechanism.
He questioned how Israeli technology companies serving international clients would receive payments or attract foreign investment if they were forced to circumvent established international banking channels.
He also raised concerns about how overseas acquisitions of Israeli businesses could proceed if the country faced restrictions on its access to global financial systems.
According to Eisenkot, such a course could encourage Israeli companies to relocate abroad, weaken savings and investments, reduce employment opportunities and prompt more citizens to leave the country.
He warned that a deteriorating economic outlook could also leave the government with fewer resources for healthcare and education, with wider consequences for national security.
“This is not an imagined nightmare scenario, but Netanyahu’s plan for Israel if he is reelected” on Tuesday, Eisenkot said.
“This is a real warning. Israel will not withstand another four years like these.”
Economic Officials Raise Concerns
Netanyahu’s remarks have also drawn criticism within Israeli political and economic circles.
Israeli media cited an unnamed senior economic official as questioning whether cryptocurrencies and alternative financial technologies could effectively help Israel circumvent banking sanctions. The official reportedly warned that publicly proposing such a strategy could itself damage economic confidence.
The debate comes amid mounting international criticism of Israel over its war in Gaza, settlement expansion and attacks by settlers in the occupied West Bank.
The United Kingdom and other Western countries have taken measures against individuals and entities linked to Israeli settlements, while concerns have grown within Israel over the possibility of broader diplomatic and economic pressure.
The potential consequences of international sanctions have therefore become a point of contention in the debate over Israel’s economic resilience, foreign relations and long-term security.
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The exchange comes ahead of Tuesday’s Knesset elections, in which Netanyahu and Eisenkot are competing for leadership of the next Israeli government, according to the supplied report.
Eisenkot urged Israelis to vote for “a better shared future”, positioning himself as an alternative to Netanyahu’s leadership and policies.
The former military chief is among Netanyahu’s prominent political rivals. The two differ sharply over security strategy, economic policy, national leadership and Israel’s international relationships.
Israeli politics remains deeply divided over responsibility for the security failures surrounding the October 2023 Hamas-led attack, the conduct of subsequent military campaigns, military conscription, economic pressures and relations with the United States and other Western countries.
The latest dispute highlights how concerns over possible international sanctions and Israel’s economic future have become part of the wider political contest over the country’s leadership.
