Quotes About Switzerland

Union Bank of Switzerland in 1999 by which the bank agreed to pay $1.25 billion into a fund administered by a U.S. District Court: $800 million for restitution of dormant bank accounts; $100 million for compensation for looted assets; and $325 million for payments to former slave laborers at Swiss-owned companies in occupied Europe or at German firms that had put their revenue in Swiss banks and for refugees mistreated by the Swiss.

These deals allowed Switzerland to seize the heirless Swiss assets of dead Polish and Hungarian citizens, most of whom were Jews, as compensation for the nationalization of Swiss property in these newly communist states.