Dec 2, 2011

#BDS: European Bank Pulls Out Of Israel After Pressure From Boycott Campaign

"The French bank, BNP Paribas, has decided to cease operations inside Israel, after the bank was targeted by the international Boycott, Divestment and Sanctions (BDS) campaign, which aims to use economic pressure to get Israel to adhere to its obligations and abide by international law.

Although the bank stated that its withdrawal from Israel was not due to the pressure campaign, but instead due to heavy losses sustained during the Greek financial crisis, Israeli officials and bankers have stated that they believe the bank gave in to pressure from European human rights groups to pull out of Israel.

BNB Paribas will close its offices and lay off sixty employees in Israel, and will end its financing of projects in the Jewish state.

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