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Sunday, May 30, 2010

Deutsche Bank divests from Elbit

Deutsche Bank, one of Germany's largest banks, has divested from Elbit, one of Israel's most prominent defense contractors (Hat Tip: Lance K).
Deutsche Bank CEO Josef Ackermann announced at Thursday’s shareholder meeting in Frankfurt that the firm had sold all its shares in Elbit Systems, a major Israeli defense company. The company declined to cite a reason for divesting from Elbit, whose stock value has fallen some 30 percent this year.

But two groups critical of the West Bank security fence that had called on Deutsche Bank to divest from Elbit -- International Physicians for the Prevention of Nuclear War and Pax Christi, a Catholic nongovernmental organization that describes itself as a human rights and peace movement -- issued a joint statement Friday calling their divestiture campaign “a major success.”


Pax Christi and the international physicians' group said Deutsche Bank should “not to profit any longer from the violation of human rights and international law through the construction of the Israeli wall on Palestinian lands.”

As of March 31, according to those groups, the bank still had more than 50,000 shares in Elbit, making it one of the Israeli company’s largest shareholders.
Together with the IDF presence in Judea and Samaria, Israel's 'security fence' (95% of it is NOT a wall) has virtually eliminated terror attacks within the 'green line' over the last four years. I guess Pax Christi would rather see dead Jews. Does Deutsche Bank feel the same way? Kind of surprising for a bank that maintains a significant presence in Israel.


At 2:06 PM, Blogger NormanF said...

So much for Germany's making amends to Israel for the Holocaust. I guess Jews have to be murdered so Deutsche Bank can live with its moral cowardice, which is lost on them.

What could go wrong indeed

At 2:48 PM, Blogger Juniper in the Desert said...

Once a bunch of nazis , always a bunch of nazis.

Any group which has the word "peace" in its title is ALWAYS suspect.It usually means the opposite! I'll bet they havent "disinvested" from North Korea, Burma, Iran, Venezuela etc.

Also, I see the Roman Catholic church as a form of "christianised" islam.

I spent 4 formative years in a grammar school run by nuns, which was awful. Having read about the Spanish Inquisition, Catholicism appeared to have adopted a lot of islamic ideology and methods.

Finally, it was the ROMAN pope, who ordered the Fourth Crusade to attack the centre of civilisation and the home of Eastern Christianity, Constantinople. So on one side were the islamic Turkish hordes and on the other, the Roman Catholics. Eventually, this led to the destruction of the Orthodox Christian empire in the east; the end of Christian middle east and the take over of islam.


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