U.S. Pressures Germany on Nazi Art Trove Discovery

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Nov. 7 (Bloomberg) -- Bloomberg international correspondent Hans Nichols reports on mounting pressure on Germany from the United States and other nations for action on the discovery of art work looted by Nazi soldiers. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Diplomatic impact?

It may.

The way the german authorities are proceeding is aggravating pretty much everyone.

Haven't released a full list of the paintings.

Some 1400 paintings that they have found.

How do you get the prosecutor that brought this case to make that list public?

You have some priceless works on their.

You have matisse, lieberman.

I'm sure sir martin sorrell has a similar collection and one of his villas.

These are nice pieces of art.

Do you have a matisse?

Not to my knowledge, no.

[laughter] how much more is there?

How much more is there?

What do you know about that?

This is a great part of the story.

Let's take their ballpark figure -- $1.4 billion.

$1.4 billion of art has been discovered.

We still don't know -- the details are still so thin.

The scary part -- not scary, but shocking -- is that there might not be legal recourse to recapture these paintings because the 1938 law that they were brought under, this is all cart degenerate art -- called degenerate art.

They authorized people to buy up all this art.

Those laws are still on the books.

Those naxizi-era laws were never repealed.

There might not be the legal recourse to get them back.

George clooney's upcoming movie -- life imitating art.

Paintings get stolen.

George clooney, matt damon going to save these is looted by the not sees -- nazis.

This guy was living with art as a hermit.

Can you get but a publicity for a movie than that?

Or there will be a new movie based on this one.

Paul kedrosky, what have you thought about this?

How do you fold this and?

-- in?

It is a good reminder that there are still these eddies.

How do we still have this giant collection of art that no one knew about?

And even when we found out about it, it was two years?

Elaborate on that for a moment.

The german authorities have known this for months, even years.

They have had this for years.

This all came out because someone was traveling with too much cash in their wallet.

A 79-year-old man.

A newspaper magazine broke this open.

It is only because of that report that the german authorities have been sitting on 1400 works of art worth $1.4 billion.

It is shocking.

When you look at the lawyers trying to get some of the spec to the families, they don't even know if the artwork is still in existence.

A bizarre story.

Hans nichols, thanks for the latest.

And thank you, sir martin sorrell.

It was a treat having you here.

We appreciate your valuable perspective as always on everything.

Good luck to twitter.

As we look ahead to the twitter debut, futures a little

This text has been automatically generated. It may not be 100% accurate.

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