Ethics and governance in the European Financial centers

Le Temps has reported that Jean Claude Juncker raised the question of the Territories of the Crown - Jersey, Guernesey, island of Man, Cayman Islands - at the EU Summit. I fully agree with him.

So are in agreement as well all those who raise objectively the question of tax havens.

But if I were Prime Minister Juncker, to be coherent, I would control much better the set up of companies in Luxembourg. There are many exotic firms in the Luxembourg Corporate Registration, including from jurisdictions like the BVI were authorities need not be informed of the identity of the IBC's shareholders or directors.

Most of these Luxembourg-registered firms are definitely scams that harm the reputation of the Luxembourg financial center.