Archives > 2008-08

The Council of Europe’s Group of States against Corruption (GRECO) has published recentyly its Third Round Evaluation Report on Luxembourg. The report, which was adopted on 13 June 2008, has been made public following the agreement of the authorities. It focuses on two distinct themes: criminalisation of corruption and transparency of party funding. In practice, the number of convictions for corruption remains very low . The first report is the most interesting. A footnote is very relevant to explain the reason why the number of cases coming before the courts appears to be very small:...

The BBC published very interesting country profiles. It explains that Luxembourg's prosperity was formerly based on steel manufacturing. With the decline of that industry, Luxembourg diversified and is now best known for its status as a tax haven and banking centre. But Luxembourg's strict laws on banking secrecy mean the system can be exploited for the purposes of tax evasion and fraud....

In the framework of a speech before French ambassadors , Président Sarkosy underlined the responsability of tax havens in the financial crisis. " La crise financière a débuté avec le scandale...

Bloomberg has reported that Switzerland asked the U.S. not to pressure UBS AG for client data located in the Alpine country as investigators look into whether the world's largest wealth manager...

Joseph Stiglitz, a former chief economist for the World Bank, in an interview published in Germany calls for coordinated worldwide action against tax havens because single actions against...