Ethics and governance in the European Financial centers

Remember last July.

Luxembourg was congratulated by OECD for having signed the famous 12 agreements. More are actually signed for the frontage.

"Luxembourg  has shown that countries are increasingly prepared to enter into high quality agreements and to extend the network of treaties which meet the OECD standard (...) The process is working and I look forward to other countries following the example that Luxembourg has set (...) I commend Luxembourg for its swift implementation of the OECD standards on exchange of information. In three months, Luxembourg has turned into reality its commitment to fully cooperate in tax matters. I would like to congratulate Minister Luc Frieden for his leadership in this process", Angel Gurria said.

I and other warned OECD.

As far as tax agreements are concerned what do we have :

1. We had a draft law to bypass with the creation of a strange "discharging fine".

2. We have no law enforced this year which delays the implementation.

3. We had anyway professionals that called for not implementing agreements and go before the courts : "nous proposons de soumettre toute demande des autorités luxembourgeoises au contrôle d'un tribunal luxembourgeois".

By the way criminal liability of legal persons required is still neither enacted nor enforced depite two OECD injunctions last yeatr and this year.

I am happy that OECD and Angel Gurria are happy...