Mr Hodge said the council's plans for a trading arm were "bold and innovative" and would help the local authority fill the gap left by a reducing government grant and also keep any future council tax rises down.
But Martin Wheatley, the chief executive designate of the Financial Conduct Authority, said that - although there was a savings gap in the UK - people had not trusted financial services.
Distrust between Netanyahu and Palestinian Authority President Yasser Arafat remains, despite U.S. President Bill Clinton's attempts to bridge the gap between the two sides.