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News Brief

June 11, 1998
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Negotiations with Switzerland’s three largest banks to reach a settlement of Holocaust-related issues have reached a “critical stage,” according to a lawyer involved in the talks. The lawyer, Michael Hausfeld, said he was not optimistic about a imminent agreement, but warned against “false hopes” and “undue pessimism.” The World Jewish Congress, lawyers representing Holocaust victims and the Swiss banks have been holding settlement talks in recent weeks under the aegis of the U.S. State Department. The negotiations are being held under rules of strict confidentiality.

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