German industry collects remaining $668 mn to cover WWII compensation

German companies have finally come up with DM 5 billion to compensate Nazi-era slaves and forced laborers, Wolfgang Gibowski, a German industry spokesman, announced on Tuesday. Although 17 major German companies agreed to cover the shortfall of $668 million in funds pledged to Holocaust victims, however, this does not mean that pay-outs will commence shortly, as U.S. courts still must promise that all class action suits against German industry concerning World War II forced labor compensation will be dismissed. The entire amount of compensation for almost two million forced laborers reaches DM 10 billion, half of which will be financed by the German government, while German industry will pay the rest. Gerhard Shroeder stressed that German companies’ failure to fulfill their obligation would affect the country’s image on international markets. (Reuters, Gazeta Wyborcza, p.1) M.-S.C.