Banking on diamonds: over the past several years, the debt of the Israeli diamond industry to...

For the past few years industry leaders have complained that the diamond business has become more about banking than about gemstones. Indeed, Paul Goris, chairman of Antwerp Diamond Bank, once said of a situation when sales were slow that "a sea of credit is being used to create turnover."

The credit lines banks offer diamantaires could make or break them in an increasingly tough industry, where those who receive the longest credit lines are more likely to stay ahead. Israel's banks are reputedly less lenient than, say, Indian banks in this respect. However, perhaps th