Ethics and governance in the European Financial centers

At its 38th Plenary Meeting (Strasbourg, 9 – 13 June 2008), GRECO adopted the Addenda to the Second Round Compliance Reports on Finland (public), Luxembourg, the Slovak Republic and Slovenia. An evaluation report becomes public once the authorities of the country concerned express their agreement to the lifting of the report's confidentiality. For the first time Luxembourg did not authorised the publication of its report.

The previous report dated 12 May 2006 concluded that has implemented satisfactorily. or satisfactorily dealt with less than one-quarter of the recommendations. In 2006 the OECD used the same wording to conclude on deficiencies in Luxembourg.

Luxembourg probably did not appreciate the OECD report that was published earlier this year.

Because of the "system", it is difficult to implement recommendations to prevent daily corrupution.


See list of reports