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...inevitable end of a protracted financial adventure." That was how State Controller Yitzhak Tunik, the government ombudsman, described Israel's bank- stock crash in a harsh report released last week. Tunik's 107-page document concerned the financial turmoil of October 1983, when investors sold off shares of Israel's major banks, forcing the government to shut down the Tel Aviv stock exchange for two weeks. By the time trading resumed, bank stocks had lost a third of their dollar value, and the government had pledged to buy the shares at precrash prices to keep investors from taking a beating...

Author: /time Magazine | Title: Damage Report | 1/14/1985 | See Source »

...Arabs, mainly Palestinians, in the Sabra and Shatila refugee camps in West Beirut. The murders, which began two days after the assassination of Lebanese President-elect Bashir Gemayel, were carried out by Christian Phalangist militiamen. The report of a commission headed by Israel's Supreme Court President, Yitzhak Kahan, found that Sharon had "disregarded the danger of acts of vengeance." The commission concluded that Sharon had ordered the militiamen into the camps and bore "indirect responsibility" for what had happened; Sharon resigned his defense post after the findings were released...

Author: /time Magazine | Title: Press: Resting Their Cases | 12/31/1984 | See Source »

Sharon sued after the magazine published a February 1983 cover story about the findings of an official Israeli commission, headed by Supreme Court President Yitzhak Kahan, which concluded that Sharon as well as other Israeli officials bore "indirect" responsibility for the massacre. Sharon subsequently stepped down as Defense Minister, though he remained in the Cabinet and is now Israel's Minister of Industry and Trade. Sharon's suit is aimed at a paragraph in the story describing a condolence call Sharon paid to the Gemayel family the day after the assassination of the Lebanese President-elect. The passage...

Author: /time Magazine | Title: Press: Probing a State of Mind | 12/17/1984 | See Source »

Hope for southern Lebanon There is no such thing as a good solution to the Lebanon question. The most we can wish for is to make the best of a bad job." Israeli Defense Minister Yitzhak Rabin offered that bleak but accurate observation last week amid small, conflicting signs that the eventual withdrawal of 22,000 Israeli troops from southern Lebanon may be growing closer. At the United Nations, it was announced that Israeli and Lebanese military delegations will hold their first meeting this week to discuss the pullout. In Jerusalem, the U.S. Assistant Secretary of State for Near Eastern...

Author: /time Magazine | Title: Israel: Pullout Signs | 11/12/1984 | See Source »

...impromptu regional tour. After spending a day in the Lebanese capital, Murphy visited Damascus, Jerusalem, Cairo and Amman on what he called a "mission of exploration." Murphy was primarily seeking a way to speed a withdrawal of the 22,000 Israeli troops in southern Lebanon. Israeli Foreign Minister Yitzhak Shamir said last week that he would like the U.S. to act as an intermediary with Syria in brokering a mutual troop withdrawal from Lebanon. Israeli officials also indicated for the first time that they might agree to bring their forces home without waiting for Syria to pull...

Author: /time Magazine | Title: Middle East: Friends and Enemies | 10/8/1984 | See Source »

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