What are the grounds for demanding its return? ("The Basel museum volunteered to return this piece immediately after discovering that it was stolen from Saqqara"). "[Dr] Hawass will shortly be contacting the ministry of foreign affairs to arrange for an MSAA representative to travel to Switzerland to collect the relief". He'll have to take a big black bag with him to bring it back {but the Ministry already has one, found on a platform in a metro station}.The Antikenmuseum has already sent back the eye of a colossal quartzite statue of Amenhotep III (c. 1390-1352 BC) found in 1970 at his funerary temple in Kom el-Hettan area on the Luxor west bank. The eye was smuggled out of the country and loaned to the museum by a private collector, where it was recognised by Egyptologist, Hourig Sourouzian, and returned to the Egyptian Museum in Cairo in October 2008.I wonder just what a museum does with something like this. Its an unwieldy block of stone with pictures of animals on it, some of them incomplete - going off the edge of the block. The picture does not make much sense. The photo being used in the media - presumably supplied by the MSAA is in fact the centrefold from the popular magazine Kmt (one might suspect that the appearance of this photo in the article 'The Egyptian Collection of Basel’s Antikenmuseum' by Lucy Gordan-Rastelli was the reason why the object was spotted by the Egyptians). Its a pretty poorly-lit photo and it suggests the scene shows hedgehog-like animals and a hare with enormous ears.
UPDATE: Alain Guilleux suggests the big-eared creature is a rabbit or hare but I suspect rabbits (orycytolagus cuniculus) were not present in Egypt in pharaonic times. I find though that the desert hare (Lepus capensis) was, and some individuals do indeed seem to have some pretty imposing ears.

Photo: A desert hare running away from antiquity smugglers, I wonder how many would, like me, prefer to look at a properly-presented exhibition of decent wildlife photography than some scruffy animal pictures on old ripped-off stonework.
Heba Hesham, Egypt to regain stolen limestone painting from Switzerland
bikya masr, May 12th, 2011
Nevine El-Aref, 'Old Kingdom relief first artefact repatriated to Egypt after revolution', Al-Ahram, 11 May 2011.
UPDATE- UPDATE 8th June 2011:
A followup article 'Switzerland returns stolen Egyptian antique' tells us the relief is already back in Egypt and adds the information that "The relief [...] was apparently stolen from the Saqqara Necropolis, south of Cairo, 10 years ago. The piece was not reported stolen but when its surfaced in Switzerland museum officials in Basel carried out tests to trace its provenance". Good for them.