Ethics and governance in the European Financial centers

John Christensen visited Luxembourg this week.

Two articles from TJN are online about this visit:
- Taboos and blood sports in Luxembourg
- Downtrodden dentists and banker heroes in Luxembourg

The same week:
- Paul Chambers, from Atoz Tax Advisers, advised banks not to disclose data on request and to wait for a court decision to authorise such disclosure whereas nothing is enforced in Luxembourg to organise the practical implementation of OECD agreements; but Paul Chambers admitted that the offshore business model is ending (original quotation : “Le modèle offshore touche vraiment à ses limites”)
- Luc Frieden would have stated that he could imagine automatic exchange of information with jurisdictions with which Luxembourg signed an agreement.

I wish politicians and professionals in Luxembourg were proactive and receptive enough to do the aggiornamento when I suggested it a couple of years ago.

The drop excavates the stone, not with force but by falling often...