Crédit Suisse

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?