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July 9, 2012 9:00 pm

Germany to Pay Nearly $300 Million to Holocaust Victims in Historic Agreement

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German Chancellor Angela Merkel. Photo: wiki commons.

JPost/JTA – Germany has agreed to provide restitution payments to an additional 80,000 Jews in what Claims Conference officials are describing as a historic breakthrough.

The agreement, which was reached Monday in negotiations between German officials and Claims Conference representatives, is likely to result in additional payments of approximately $300 million. Most of the money will go to Nazi victims in the former Soviet Union who have never before qualified for pensions or payments from German restitution money.

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