Returning Property that was stolen by the Nazis to its Rightful Owners

More than 40 countries have agreed to back the first set of international rules for returning property that was stolen by the Nazis to its rightful owners or heirs - following the unveiling of the rules in Prague, the countries have vowed to open archives and process claims for restitution faster...

Forty-three countries have agreed to abide by the new set of rules, despite the fact that they are non-binding.

The rules call for more transparency and speed in the processing of restitution claims for property stolen between 1933 and 1945.

They also state that people claiming lost property should be given free access to all relevant local, regional and national archives.

Stuart Eizenstat, a special adviser to the U.S. Secretary of State on Holocaust issues, said the rules would provide states with a specific and detailed road map on restituting and compensating stolen properties.

"We've made a major advance in providing belated justice to victims and their families.

"For the first time in 65 years nations have come together in Prague to provide a guideline and best practices for property confiscated and wrongly seized by the Nazis, fascists and their collaborators during the Holocaust era," he said.

It is estimated that before the Holocaust Jews owned property in Europe that was worth between $10 billion and $15 billion at the time. Most was taken and never returned or paid for, translating into a missing $115 billion to $175 billion in current prices.

Many Western European governments paid restitution for only a fraction of the stolen assets, while Eastern European countries in the Soviet bloc paid almost nothing at all.

Whilst it is generally acknowledged that the rules are a positive step forward, there is debated as to whether they will actually be followed and have the impact aimed for.

As well as the restitution of homes, the new guidelines also encourage states to eliminate hurdles for non-citizens seeking seized property and call for special funds to be set up in cases where there are no heirs to claim the stolen real estate.

If restitution is not possible, ‘other acceptable solutions may include substituting property of equal value or paying genuinely fair and adequate compensation,' the guidelines said. Progress is due to be reviewed in two years.

In related news, Britain has appointed its first-ever envoy to deal with post-Holocaust issues - Andrew Burns, a former ambassador to Israel.

Foreign Secretary William Hague says, "Britain is committed to preserving the memory of the Holocaust and will support efforts to make sure that the lessons of this period in history are not forgotten."