05 March 2007 by Pierre Hazan

On August 12, 1998, the Union of Swiss Banks and Crédit Suisse agreed to pay 1.25 billion USD to American Jewish organizations bringing to a close one of the most serious political crises that Switzerland has known since WWII. Nine years later, what assessment can be made of a controversy that aroused passions, provoked a political identity crisis in the heart of Swiss society, strained US-Swiss relations and forced Swiss banks to lift bank confidentiality for the years of 1939-1945?

Crédit Suisse