World Financial Honchos to Attend $30,000 Bye-Bye Bash to Fischer

Former U.S. Secretary of the Treasury Larry Summers will join several other world financial leaders on June 18 for a $30,000 farewell party for Bank of Israel Governor Stanley Fischer, the Globes business newspaper reported Thursday.

Fischer is leaving in the middle of his second term of office after having made aliyah to take the post as Bank Governor in 2005.

European Central Bank President Mario Draghi, Central Bank of Ireland Governor Patrick Honohan, Central Bank of Chile Governor Rodrigo Vergara, JPMorgan Chase International chairman and former Bank of Israel governor, Jacob Frankel and world monetary expert reportedly will be among those at the party.

Fischer began his term as Israel was riding a wave of strong economic growth and unprecedented stability and low inflation.

He is leaving behind a fractured economy and a housing shortage that has angered Israelis.