Switzerland and the Crisis of the Dormant Assets and Nazi Gold

First Published in 2001. Sharp criticism was recently focused on Switzerland for its doings during World War II and the Swiss banks' policies with respect to dormant assets belonging to victims of the Holocaust, in a process that lasted more than two years, from spring 1996 to fall 1998. Through the determined action of interested parties, the whole process evolved into a violent crisis with an international dimension. This crisis finally came to an end when an overall settlement was reached under which the foremost Swiss banks agreed to pay $1.25 billion to the Jewish organisations and Holocaust victims who had taken up legal action before the American courts. The aim of this book is to lay bare the mechanics of this crisis that so violently shook Switzerland and harmed its international image. It endeavours to show how and why organisations and governments heaped attack on Switzerland. The declared and perfectly legitimate cause of the crisis was that of seeing justice for the victims of the Holocaust. Behind that lay a hidden agenda only a closer look can bring to light. The proposals made here open up an important area of discussion as international policymakers seek peace and stability in the post-Cold War world.

First Published in 2001. Sharp criticism was recently focused on Switzerland for its doings during World War II and the Swiss banks'' policies with respect to dormant assets belonging to victims of the Holocaust, in a process that lasted more than two years, from spring 1996 to fall 1998. Through the determined action of interested parties, the whole process evolved into a violent crisis with an international dimension. This crisis finally came to an end when an overall settlement was reached under which the foremost Swiss banks agreed to pay $1.25 billion to the Jewish organisations and Holocaust victims who had taken up legal action before the American courts. The aim of this book is to lay bare the mechanics of this crisis that so violently shook Switzerland and harmed its international image. It endeavours to show how and why organisations and governments heaped attack on Switzerland. The declared and perfectly legitimate cause of the crisis was that of seeing justice for the victims of the Holocaust. Behind that lay a hidden agenda only a closer look can bring to light. The proposals made here open up an important area of discussion as international policymakers seek peace and stability in the post-Cold War world.