This is an essential timeline of the events related to the international dispute on the handling and recovering of the Holocaust assets, with a special focus on Switzerland. It is constantly updated.
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31.7.98 -- A group of Swiss companies reunited in the Swiss Business Coalition, a Washington-based lobbying group supported by the Swiss Holocaust Taskforce, published today a full-page ad in the New York Times and two other US newspapers with the text of an open letter to president Clinton. Titled "A trade war between the US and Switzerland?", the letter says that a just solution to the Holocaust assets issue "can only be found within the framework of international cooperation and not by confrontation, threats and sanctions". The group says it is "deeply concerned that the sanctions imposed on Swiss companies could trigger a vicious cycle of threats and counter-measures" and urges Clinton to call "for an end to threatening rhetoric and counterproductive sanctions".
31.7.98 -- A report published by a commission of German historians states the the Deutsche Bank was involved in the commerce of gold stolen by the nazis from war victims. According to the report, ordered by the DB itself, it is "likely" that the members of the board of the bank where aware of the origin of the gold.
30.7.98 -- According to the American press, the Congress and the US Administration doubt the efficiency of unilateral economic sanctions leveraged against other countries. A law is being elaborated which would submit any such measure to a cost/benefit analysis.
30.7.98 -- Flavio Cotti will meet on September 7 with a dozen of the top representatives of the Swiss business to analyse the US boycott threats.
30.7.98 -- The Swiss National Bank has started a new study on the commerce of gold before and during the war. The vice president of the SNB, Jean-Pierre Roth, had criticized the Bergier report published last month saying it was "inaccurate".
29.7.98 -- US Ambassador to Switzerland Madeleine Kunin has been informed by a bank that her mother opened an account before WW2, on which $100 were deposited. Kunin said she was not suprised by the modest amount, as her mother was not wealthy. The fact that she was informed however, she added, shows that the heirless accounts, whether they are small or large, are being all taken into consideration.
29.7.98 -- The negociations relating to the class-action lawsuit filed against 16 european insurance companies (3 of which are Swiss) have begun in New York between the representatives of these companies, the Jewish organizations and the US States.
23.7.98 -- The White House opposes any sanctions or boycott measures levered against Swiss banks and corporatons in the US, Michale McCurry, spokesperson for Bill Clinton stated to the press, reacting to Flavio Cotti's letter of yesterday.
22.7.98 -- A hearing at the US Senate's Banking committee on the Holocaust assets took place without the presence of a single official representative from the Swiss government or Swiss banks (they had been invited but refused to testify). While Sen. D'Amato attacked Switzerland, US Undersecretary of State Eizenstat praised the Swiss for their efforts, all the while expressing disapointment at the failure to reach a global settlement. He called upon Switzerland to have a more active role in the controversy.
22.7.98 -- Member of the Swiss parliament and writer Jean Ziegler has announced that he has sold the movie rights to his recent controversial book on Switzerland during WW2 to a US film studio.
22.7.98 -- For the first time, Swiss president Flavio Cotti has sent a vibrant letter to US president Bill Clinton stating that boycott measures by American States and cities against Swiss corporations are seriously endagering the good relationship between the two countries. Cotti is requesting that Clinton speaks up firmly against these boycott measures.
22.7.98 -- One year after the publication of the names of the "heirless accounts" holders, the Swiss banks have received 9000 requests from 75 different countries. Out of the 61.7 millions "heirless" francs discovered however, only several million have been paid out so far.
21.7.98 -- The Bergier Commission's report on the Swiss policy towards refugees during WW2, previously scheduled to be released this fall, will not be ready until Spring 1999. It will also tackle the issue of looted artworks.
20.7.98 -- Organised by the Holocaust Taskforce, a summit is planned for next September bringing together representatives of the Swiss government, corporations, banks, insurances companies as well as the Swiss National Bank in order to examine a possible global strategy to confront the issue of Holocaust assets.
17.7.98 -- According to several Swiss and international newspapers, a deal between the Swiss commercial banks and Jewish groups over Nazi gold seems close at hand. This deal would not include the SNB nor the government. The latest proposal apparently defines that the banks will pay a settlement sum of $600 million, plus any figure revealed by the commission lead by Paul Volcker to have been left in dormant accounts of Holocaust victims. Banks seem willing to guarantee that this figure will be at least another $600 million, thus paying a total $1.2 billion.
17.7.98 -- The Swiss government announced that it would not send official representantives to the hearings organized for July 22 by Sen. Al D'Amato's Senate Banking Committee into "the Swiss banks, the 1946 Washington agreement, and current developments in Holocaust assets restitution". The government has repeatedly stated that renegociation of the 1946 agreement is "out of question". Both the SNB and the commercial banks have delined the invitation as well. Sen. D'Amato reacted saying that the Swiss government continues to pursue an "obstructive policy" on the matter.
16.7.98 -- Joseph Spring, the Auschwitz survivor whose demand for an indemnisation has been rejected last month by the Swiss government, will appeal to the Federal Tribunal, which is Switzerland's supreme court. Spring's lawyer qualifies the Swiss authorities' attitude during WW2 as "accomplices to genocide".
16.7.98 -- The management of Denner, the third largest food chain in Switzerland declared that they would no longer sell products imported from the US (approximately 300 products) in retaliation to America's boycott threats.
16.7.98 -- The European Parliament has called the European Union to apply pressure on "all governments concerned" with regard to the restitution of Holocaust
victims' assets to their rightful owners. This is the first time the European Union intervenes in the debate on Holocaust assets. The text does not only apply to Switzerland, but it is the only country specifically mentioned.
15.7.98 -- Two of the lawyers of Holocaust victims in the US, Ed Fagan and Robert Swift, have confirmed that they will be "more flexible" with regard to the amount of the global settlement sum if the Swiss government, in the name of the National Bank, will participe in the defining of an agreement on to the Holocaust assets issue. Swift added that the amount of $1.5 billion initially requested could be lowered. But Mel Weiss, a lawyer for another group of plaintiffs, has said he is "scandalised" by this proposition.
15.7.98 -- The Florida insurance surveillance body has announced it will cancel two lines of credit amounting to several million dollars with UBS and CS. "We no longer conduct business with establishments which have enriched themselves on the back of Holocaust victims, whether they are banks or insurance companies" confirmed the director of this group.
14.7.98 -- Sigi Feigel, honorary president of the Zurich Israelitic Community, will not file a lawsuit against the Wiesenthal Center for its report accusing the Swiss of being pro-nazi during WW2. According to Mr. Feigel, the report is "a mean pamphlet which attacks and hurts Swiss honor". But a legal expertise has concluded that a libel suit in an American court of law would have very little chance of being successful.
14.7.98 -- Nearly 19 million francs held in heirless accounts in Swiss banks have been paid out so far to identified heirs. Nine of theses accounts, totalling 10 million francs belonged to Holocaust victims.
13.7.98 -- The co-president of the World Jewish Restitution Organization, Avraham Burg has requested the resignation of Swiss Holocaust Taskforce head Thomas Borer.
9.7.98 -- The head of the Swiss Holocaust Taskforce, Thomas Borer, has written a letter to Alan Hevesi practically accusing him of manipulating and disseminating false information. Borer denies promising the Swiss government's participation (along with the banks) in the event of a global settlement. "Intimidation tactics such as yours are reminiscent of the most flagrant propoganda methods" and do not contribute to resolve the issues of the Holocaust assets in the survivors's interests, Borer added.
8.7.98 -- In an interview with the Swiss magazine "Weltwoche" New York City's comptroller Alan Hevesi strongly criticized the Swiss government, accusing it of misguiding the Swiss people
7.7.98 -- US Senator Al D'Amato has threatened to put the 1946 Treaty (Washington Treaty) on nazi gold on the agenda of the Senate Banking Committee if a compromise is not reached by July 22 with regard to the class-action lawsuits against Swiss banks. D'Amato is chairman of the Banking Committee.
6.7.98 -- The special Fund for the Holocaust victims has paid out to Holocaust survivors 30 million francs to date and another 50 million will be paid out soon.
5.7.98 -- A lawsuit has been filed in Zurich against the Swiss Democrates party (right-wing) for having initiated a boycott appeal against American and Jewish products, restaurants or travel destinations. The plaintiffs state that this appeal is in violation of laws against racism.
5.7.98 -- The Swiss watch multinational Swatch has announced that it will boycott all American products in the event of sanctions applied against the Swiss industry.
5.7.98 -- UBS president, Mathis Cabiallavetta, in an interview with the Swiss-German national radio station, invited the Swiss people to "keep calm" and confirmed that the offer made by the Swiss banks of $600 million for a global settlement is still valid.
5.7.98 -- According to an opinion poll by two Swiss Sunday newspapers, 69.5 % of the Swiss citizens said the Swiss government should have a more firm position facing criticism from the US and Jewish organizations. 61.2 % are in favour of bringing the case of US sanctions to the World trade organization, while 66 % refused to consider counter-sanctions.
4.7.98 -- Auschwitz survivor Joseph Spring rejected the 30 000 francs collected by members of the Swiss parliament, saying he does not need them. He asked the sum to be given to a foundation in order to be redistributed to those in need.
2.7.98 -- A group that represents about 800 financial officers of state and municipal governments around the United States, lead by New York City's comptroller Alan Hevesi,
decided to end a moratorium on sanctions against Swiss banks and corporations that has been in effect since last December. Cities and States can now freely decide whether to gradually apply sanctions, starting Sept. 1st. California has already announced that it will not seek new contracts with US subsidiaries of Swiss banks. Hevesi said negotiations between banks and Holocaust survivors had "reached a total, stone-like impasse". The Swiss government reacted firmly to the end of the moratorium saying that sanctions are "counter-productive, unjustified, and illegal", meaning that economic sanctions infringe free-trade agreements. Swiss banks have threatened to reconsider their offer of $600 millions for a global settlement, and are considering to sue any US local or state authority that would apply sanctions since these are illegal. The Swiss Jewish community also criticized the end of the moratorium.
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