Archives > 2009-02

The Luxembourg government cannot be taken with serious in the debate about banking secrecy. In a couple of days 3 contradictory messages were communicated. On 3 February, Luxembourg Prime Minister Jean-Claude Juncker implied before Italian media he was open to discuss the abolition of banking secrecy with the European Commission. On 20 February, Luxembourg minister for foreign affairs and immigration and Luxembourg's Deputy Prime Minister Jean Asselborn said in Switzerland that banking secrecy needs to be redefined , but abolishing it abruptly is not in Europe's...

Bloomberg has reported that UBS AG won a ruling in a Luxembourg lawsuit filed by Banca Intermobiliare SpA seeking to force the release of 5.1 million euros ($6.5 million) from an account belonging to a fund that had invested with Bernard Madoff. Banca Intermobiliare SpA argued UBS had a duty to pay it after sending the Italian bank a confirmation for a redemption request from the British...

The CSSF has yesterday published a press release (in French ) about its investigation. Olivier Sciales translated the findings : The CSSF ordered UBS (Luxembourg) S.A. within a...

John Cummings has reported that American senators want that the Obama administration’s fiscal year 2010 budget to include an array of measures aimed at shutting down what they describe as...

Reuters has reported that French Economy Minister Christine Lagarde said on Monday her U.S. counterpart, Treasury Secretary Timothy Geithner, was moving closer to European countries' position on...