Swiss banks pay millions more into Holocaust fund

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Mar 25, 1997, 3:00:00 AM3/25/97
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<I><A HREF='http://www.clari.net/'>ClariNet</A> <CLARI-ITEM TYPE>story</CLARI-ITEM> <B><CLARI-ITEM SLUGWORD>SWISS-HOLOCAUST-BANKS</CLARI-ITEM></B> from <CLARI-ITEM FROM>Reuters</CLARI-ITEM></I><BR>
<H1><CLARI-ITEM HEADLINE>Swiss banks pay millions more into Holocaust fund</CLARI-ITEM></H1>
<I><B><CLARI-ITEM COPYRIGHT>Copyright 1997 by Reuters</CLARI-ITEM></B></I> / <I><CLARI-ITEM DATE>Tue, 25 Mar 1997 4:24:04 PST</CLARI-ITEM></I><P>
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<P> ZURICH, March 25 (Reuter) - Swiss banks have pledged an
extra 20 million Swiss francs ($13.7 million) for a Holocaust
memorial fund launched by private-sector businesses as a gesture
to victims of Nazi persecution, a bankers' group said on
Tuesday.</P>
<P> The contribution tops up the fund, initiated last month with
a 100 million franc donation from the three biggest banks, to
285 million francs. The Swiss National Bank has chipped in 100
million and Swiss industry another 65 million.</P>
<P> ``On the basis on firm pledges, the Swiss Bankers'
Association can state that more than 20 million francs in
additional funds will shortly be paid into the special fund as a
contribution from other banks,'' the banking industry group said.</P>
<P> ``The banks hope that it will thus be possible to provide
help quickly and in a targeted way to victims of the
Holocaust/Shoa,'' it said in a statement. Shoa is the term used
by some Jewish groups for the Holocaust.</P>
<P> International pressure and threats of boycotts galvanised
big Swiss banks to start the fund, which is being coordinated by
the Swiss government in Berne and world Jewish groups.</P>
<P> Each party to the fund has had different grounds for paying.</P>
<P> The commercial banks were trying to dispel accusations that
they hoarded accounts left by Holocaust victims. The central
bank was making amends for buying looted Nazi gold during World
War Two.</P>
<P> Swiss machine makers and engineering industries have spoken
of donating to the fund to help repair the tarnished image of
Swiss business.</P>
<P> Some Swiss industrialists have been accused of helping the
German war effort and profiting from Nazi crimes by using forced
labour at plants in Germany or buying businesses cheaply after
they were confiscated from Jewish owners.</P>
<P> The memorial fund is separate from the seven billion franc
Swiss Solidarity Foundation proposed by Berne that would sell
official gold reserves to finance aid for victims of poverty,
catastrophes and human rights abuses, including the Holocaust.</P>
<P> -- Zurich newsroom +41 1 631 7340
($ &lt; 1.457 Swiss Francs)</P>
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Reuters

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Mar 25, 1997, 3:00:00 AM3/25/97
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<I><A HREF='http://www.clari.net/'>ClariNet</A> <CLARI-ITEM TYPE>story</CLARI-ITEM> <B><CLARI-ITEM SLUGWORD>SWISS-HOLOCAUST-BANKS</CLARI-ITEM></B> from <CLARI-ITEM FROM>Reuters</CLARI-ITEM></I><BR>
<H1><CLARI-ITEM HEADLINE>Swiss banks pay millions more into Holocaust fund</CLARI-ITEM></H1>
<I><B><CLARI-ITEM COPYRIGHT>Copyright 1997 by Reuters</CLARI-ITEM></B></I> / <I><CLARI-ITEM DATE>Tue, 25 Mar 1997 9:31:50 PST</CLARI-ITEM></I><P>
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<P> ZURICH, Switzerland (Reuter) - Swiss banks have pledged an
extra $13.7 million for a Holocaust memorial fund launched by

private-sector businesses as a gesture to victims of Nazi
persecution, a bankers' group said Tuesday.</P>

<P> The contribution tops up the fund, initiated last month with
a 100 million franc donation from the three biggest banks, to
285 million francs. The Swiss National Bank has chipped in 100
million and Swiss industry another 65 million.</P>
<P> ``On the basis on firm pledges, the Swiss Bankers'
Association can state that more than 20 million francs in
additional funds will shortly be paid into the special fund as a
contribution from other banks,'' the banking industry group
said.</P>
<P> ``The banks hope that it will thus be possible to provide
help quickly and in a targeted way to victims of the
Holocaust/Shoah,'' it said in a statement. Shoah is the term

used by some Jewish groups for the Holocaust.</P>
<P> International pressure and threats of boycotts galvanised
big Swiss banks to start the fund, which is being coordinated by
the Swiss government in Berne and world Jewish groups.</P>
<P> Each party to the fund has had different grounds for paying.</P>
<P> The commercial banks were trying to dispel accusations that
they hoarded accounts left by Holocaust victims. The central
bank was making amends for buying looted Nazi gold during World
War II.</P>

<P> Swiss machine makers and engineering industries have spoken
of donating to the fund to help repair the tarnished image of
Swiss business.</P>
<P> Some Swiss industrialists have been accused of helping the
German war effort and profiting from Nazi crimes by using forced
labour at plants in Germany or buying businesses cheaply after
they were confiscated from Jewish owners.</P>
<P> The memorial fund is separate from the seven billion franc
Swiss Solidarity Foundation proposed by Berne that would sell
official gold reserves to finance aid for victims of poverty,
catastrophes and human rights abuses, including the Holocaust.</P>
<P> $1 - 1.457 Swiss Francs)</P>

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