“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.
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