Luxembourg drops approval for Israel bonds issue: What that means

Luxembourg is not renewing its authorization for the issuance of Israel bonds, leaving Israel uncertain about its ability to borrow in European markets. Luxembourg's Finance Minister Gilles Roth stated that the Commission de Surveillance du Secteur Financier decided not to extend the approval beyond the August 31 expiration date. Israel bonds, which represent a loan to the Israeli government, are used to finance various aspects of the government, including military spending.