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The little telegraphist (II)

Luc Frieden went to the USA to explain the Luxembourg views on taxes.

The wording of the press release is worth reading between the lines:

Le ministre Frieden a tenu à informer les responsables du ministère des Finances américain et de l’administration fiscale de la nouvelle position luxembourgeoise en matière d’échange d’informations sur demande conforme aux standards de l’OCDE.
(Minister Frieden made a point of informing the persons in charge of the American Ministry of Finance and the tax administration of the new Luxembourg position as regards information exchange on request in conformity with the standards of OECD.)

“made a point of informing”: by using this expression, Luxembourg shows the weakness of the jurisdiction as it relates to the USA.
“the new Luxembourg position” : it means that Luxembourg did not comply with the standards of OECD before and therefore was a tax haven.

Les autorités américaines ont salué la volonté de coopération du Luxembourg dans la lutte internationale contre la violation des lois fiscales
(The American authorities welcomed Luxembourg’s will of cooperation in the international fight against the violation of tax laws.)

“the will of cooperation”: by using this expression, Luxembourg shows the weakness of the jurisdiction as it relates to the USA. For example someone guilty “cooperates” with the police. Should Luxembourg be in a strong position, a word like “commitment” would have been used: “The American authorities greeted the commitment of Luxembourg…”

Le ministre Frieden a également rencontré des membres des deux Chambres du Congrès américain pour les convaincre que le Luxembourg ne devrait figurer sur aucune des listes qui figurent dans certaines propositions de loi actuellement en discussion au Congrès américain
(Minister Frieden also met members of parliament to convince them that Luxembourg should not be listed on any of the lists which appear in some bills currently under discussion before the American Congress.)

“to convince them” : it is not said members of parliament were convinced, exactly like French MPs.

17:35 Posted in Luxembourg | Permalink | Comments (1)



thank you for your blog. It is one (if not the only) critical source of information about Luxembourg an the banks.

Frieden had an advantage in the US
Luxembourg is one of the Top (4th!) US-Dept-Holders.

The question that arises is what if Bonds collapse or the dollar weakens further?


Posted by: denjclaude | 03/25/2009

The comments are closed.