The credit rating company S&P published a special report on Israel's economy in which it states that the changes in the Israeli legal system endanger the country's economy.

The agency complimented the strong Israeli economy, but warned against the consequences of the changes promoted by the government in the legal system: "In the short term, we anticipate that the political uncertainty, together with weak economic performance by Israel's allies in Europe and the United States, will reduce economic growth in Israel in the next two years."

Earlier this week, the credit rating agency Moody's published a report on Israel in which it was stated that "the risk of a constitutional crisis is increasing, and the data are worrying."

"The comprehensive nature of the government's plans may significantly weaken the independence of the judicial system and disrupt the effective checks and balances between the various authorities. Some of our earlier concerns regarding the effects of the reform on Israel's economy are beginning to materialize. There are signs that Israel is disconnecting from global trends in the technology industry," the document says.... Read More: Arutz-7