SWITZERLAND: SWISS GOVERNMENT TELLS BANKS THAT THEY'RE ON THEIR OWN IN SEEKING GLOBAL SETTLEMENT OF CLAIMS BY JEWISH HOLOCAUST SURVIVORS
Record ID:
566115
SWITZERLAND: SWISS GOVERNMENT TELLS BANKS THAT THEY'RE ON THEIR OWN IN SEEKING GLOBAL SETTLEMENT OF CLAIMS BY JEWISH HOLOCAUST SURVIVORS
- Title: SWITZERLAND: SWISS GOVERNMENT TELLS BANKS THAT THEY'RE ON THEIR OWN IN SEEKING GLOBAL SETTLEMENT OF CLAIMS BY JEWISH HOLOCAUST SURVIVORS
- Date: 27th March 1998
- Summary: GENEVA, SWITZERLAND (MARCH 27, 1998)(RTV ACCESS ALL) 1. GV OF CITY OF GENEVA FROM LAKE GENEVA 0.07 2. VARIOUS EXTERIORS OF THREE MAIN BANKS FACING SANCTIONS - SBC, UNION BANK OF SWITZERLAND AND CREDIT SUISSE GROUP (6 SHOTS) 0.33 3. VARIOUS OF GOLD BARS IN SWISS GOLD RESERVE (2 SHOTS) 0.54 4. MEMBER OF SWISS PARLIAMENT, JEAN ZIEGLER SAYING THE WORLD JEWISH CONGRESS THINKS THE SWISS NATIONAL BANK SHOULD ALSO PAY BECAUSE THE 2,000 TONNES OF GOLD RESERVE IN BERNE, THE SWISS NATIONAL RESERVE, IS IN A GREAT PART GOLD ROBBED BY THE NAZIS, IT IS NAZI GOLD. SO THERE IS A BIG PROBLEM BECAUSE THE SWISS GOVERNMENT ALWAYS SAID PUBLIC FUNDS FROM THE NATIONAL BANK - WE ARE NEVER GOING TO PAY FROM PUBLIC FUNDS FOR THE (JEWISH) VICTIMS (ENGLISH) 1.35 5. VARIOUS OF GOLD BARS (2 SHOTS) 1.50 Initials Script is copyright Reuters Limited. All rights reserved
- Embargoed: 11th April 1998 13:00
- Keywords:
- Location: GENEVA, SWITZERLAND
- City:
- Country: Switzerland
- Reuters ID: LVAB55S7QELMF4BZKLKEABGF47HX
- Story Text: Swiss banks have been told by their government they are on their own in seeking a global settlement of claims by Holocaust survivors who accuse the banks of profiting from their wartime misery.
A member of the Swiss parliament Jean Ziegler said on Friday (March 27) Swiss banks needed the participation of the Swiss National Bank if a global agreement were to be reached.
"There is no global settlement, that is just the willingness of the Swiss banks to pay what they owe," he said.
"It could be a public relations gag on the part of the three Swiss banks in order to escape the sanctions" he added.
"There is a problem which is quite delicate, the World Jewish Congress thinks the Swiss National Bank should also pay because the gold was in their reserves in Berne," Ziegler said.
On Thursday, Swiss banks agreed to start negotiations with the World Jewish Congress, lawyers for class-action plaintiffs on global settlement of claims.
A moratorium on any punitive action against Swiss banks by state and local officials is currently in effect until March 31.
The Clinton administration strongly opposes any boycott move, saying that Switzerland has made good progress on the issue and that punitive action would be counter-productive.
Jewish officials are seeking compensation for assets of Holocaust victims that were looted during the war.
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