Dáil Éireann debate -
Tuesday, 18 Feb 1997

Vol. 475 No. 1

Written Answers. - Swiss Banks Investigation.

Trevor Sargent

Question:

95 Mr. Sargent asked the Minister for Finance if the Government intends to review its relationship with certain Swiss banks, notably the Union Bank of Switzerland, in view of the appointment by the Swiss Government of a task force to investigate the role of these private financial institutions in the ongoing provisions of banking facilities in respect of Nazi assets; and if he will make a statement on the matter. [4277/97]

Minister for Finance (Mr. Quinn)

I understand that the role of Swiss banks, both public and private, during World War 2 and their subsequent administration of unclaimed assets are currently the subject of a number of investigations, including an examination by a special task force established by the Swiss Government. Consideration of the need for a review of existing relationships between the Government and Swiss banks would be premature pending the outcome of these investigations.