Economics expert comments on US court ruling that PA must pay $655 million to terror victims
On Feb. 23, 2015, the US Federal District Court in New York ruled that the Palestinian Authority is financially liable for $655 million in damages to victims of terror attacks. 10 American families who are all victims or related to victims of Palestinian terror, sued the PA for damages, saying that the PA was responsible for the terror attacks in which they were personally injured or their relatives were killed during the years of the PA terror campaign (Intifada, 2000-2005).
Headline: "Will Israel deduct the compensation to the American Jews from [PA] tax money?"
"Economists believe that the US Court of Appeals' upholding of the New York State jury's decision, which obligates the PA to compensate the families of several American Jews killed in attacks during the second Intifada (2000-2005), will be a painful economic and financial blow to the PA, causing it partial bankruptcy and partial paralysis...
Economics expert Dr. Nasser Abd Al-Karim stressed to Al-Hayat Al-Jadida that if the ruling goes into effect after the appeal, it will be final, and it will be obligatory to pay. Even if the PA does not pay, it will represent a liability for it, and it [the PA] may encounter difficulties in performing financial transactions and transfers, or in opening bank accounts in the international banking system."
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Headline: "Will Israel deduct the compensation to the American Jews from [PA] tax money?"
"Economists believe that the US Court of Appeals' upholding of the New York State jury's decision, which obligates the PA to compensate the families of several American Jews killed in attacks during the second Intifada (2000-2005), will be a painful economic and financial blow to the PA, causing it partial bankruptcy and partial paralysis...
Economics expert Dr. Nasser Abd Al-Karim stressed to Al-Hayat Al-Jadida that if the ruling goes into effect after the appeal, it will be final, and it will be obligatory to pay. Even if the PA does not pay, it will represent a liability for it, and it [the PA] may encounter difficulties in performing financial transactions and transfers, or in opening bank accounts in the international banking system."
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