Ethics and governance in the European Financial centers

Prime Minister Juncker was on the French radio this morning.

He wished the end of offshore centers as offshore centers “are an evil” and must be rolled. He said he was in favour of more transparency and confirmed that Luxembourg will accept the OECD standards.

The Narcotics Control Strategy Report on Luxembourg states that Luxembourg is an offshore financial center. This is as well what sells many “fiduciaries” in Luxembourg.

And this is true, because many Luxembourg-registered companies are linked to exotic jurisdictions that do not have the same standards of controls as Luxembourg. They are used for scams.


In a nutshell by combining what officially states the Narcotics Control Strategy Report on Luxembourg and Prime Minister Juncker’s statement, Luxembourg is an evil, unless it actually corrects the offshore abuses through Luxembourg.



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