Ethics and governance in the European Financial centers

Jean Claude Juncker yesterday stated that “neither financial product nor actor of finance should be able to escape from the regulation and the control mechanisms”. “The chart of the economic and financial world should not be sullied any more by black holes”, he concluded.



What a charade when one observes some Luxembourg-registered companies and some statutory auditors in Luxembourg, which escape from the regulation and the control mechanisms thanks to the abuse of offshore in Luxembourg, notably with many jurisdictions that are considered as tax havens by the OECD.