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Even without bank 'secrecy,' we can thrive on the strength of our talent base and our political and economic stability.
By Jacques PETERS, CEO de KBL European Private Bankers
Tidy, quiet Luxembourg—smaller than the smallest U.S. state and richer, per capita, than nearly every other nation on earth—has lately found itself in the very last place it wants to be: under the global spotlight. Ever since Prime Minister Jean-Claude Juncker announced in April that the country is ready to engage in the automatic exchange of information with EU and American tax authorities, analysts world-wide have speculated about what the change means for our nation of 500,000, where the financial-services sector accounts for roughly 28% of GDP.
In banking...
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