This is a story that keeps repeating itself. The gemara records an account of the Egyptians demanding reparations through Alexander the Great and in the 50's they demanded it through the UN. And the answer is always the same: fine, pay us back wages plus interest first.
Except that in 1700 the answer was different: "the Jews surprized at this strange and unreasonable Demand, were in a great Consternation, but thought fit at length to pacifie the Bassa with a large Sum of Money."
Garnel, do you have a link for the story about the 1950s / UN? I google, but found nothing.
In 2003 as well.http://www.israelnationalnews.com/Articles/Article.aspx/2675