“What will be the response to a situation that only gives foreign bank account holders 18 months to decide on what to do about soon-to-be disclosed assets and revenue in Luxembourg?” wonders the daily.
With the EU intent on putting an end to banking secrecy, the Grand Duchy has accepted to exchange banking information with other countries from 2015.
“Luxembourg’s banking sector has reoriented its strategy and affirms that it will now focus on wealthy foreign customers with transparent assets,” notes the newspaper.
Was this article useful? If so we are delighted! It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans. Discover our membership offers and their exclusive benefits and become a member of our community now!
Russia’s attack on Ukraine: Kateryna Mishchenko in conversation with Sergey Lebedev
Two weeks after the launch of Russia’s massive attack on Ukraine, Ukrainian writer Kateryna Mishchenko – who had to flee Kyiv – shared her thoughts with our readers and with Sergey Lebedev, a veteran Putin opponent.Go to the event >