Greece to seek Nazi damages from Germany

11 Sep 2012, 4:01 am   -   Source: AAP

Greece says a "working group" is deciding how much Germany might owe in outstanding reparations for Nazi war crimes during World War II.

Greece has set up a "working group" to scour historical archives and tally how much Germany might owe in outstanding reparations for Nazi war crimes during World War II, the finance ministry has announced.

Greece has said in recent years that it reserves the right to claim reparations worth an estimated $US7.5 million ($A7.3 million), saying it was forced to accept unfavourable terms during negotiations in the 1950s.

"The matter remains pending," said Deputy Finance Minister Christos Staikouras. "Greece has never resigned its rights."

Nonetheless, he called for a "realistic and cool-headed" approach to the prickly issue, which could further sour relations between Germany and Greece.

The four-member working group is expected to submit its report by the end of the year, the ministry said in a statement on Monday.

Many in Greece blame Germany for the tough austerity measures currently being enforced as it tries to climb out from under its debt mountain.

Greece has been given international credit lifelines - first for 110 billion euros ($A136 billion) in May 2010 and then for 130 billion euros earlier this year, plus a 107-billion-euro private debt write-off.

Germany is the biggest single donor to Greece's bailout packages.

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