Netanyahu: The European Union should be ashamed of itself

Prime minister says he's not worried about effects of new EU settlement labeling guidelines on the Israeli economy. 

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 Prime Minister Benjamin Netanyahu said the European Union should be ashamed of itself for approving new guidelines on Wednesday for labeling products made in territories that Israel captured during the 1967 Six Day War.

The areas that will be subject to the new labeling guidelines are the West Bank, east Jerusalem, and the Golan Heights. 

The Prime Minister joined both coalition and opposition members of Knesset in criticizing the decision. 

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"The EU decision is hypocritical and creates a double standard that only addresses Israel and not the 200 other conflicts that exist around the world," a prepared statement released by Netanyahu read.

"The EU has decided to only mark Israel and we are not prepared to accept that Europe is singling out the side that is being attacked by terror," he added.

But the prime minister did not express worry over the new guidelines' effects on the Israeli economy.

"The Israeli economy is strong and will withstand them [the guidelines], it is the Palestinians on the other hand, who work in Israeli factories, who will be harmed," Netanyahu said.