Euromoney’s 2012 FX survey results

Euromoney’s 2012 FX survey results

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May 1996

Luxembourg: Facing up to harder times


Luxembourg was in at the start of European unity and is as committed to it as ever. But the things that have made the Grand Duchy great - tax advantages, strict banking secrecy, the Luxfranc bond market and the absence of minimum bank reserve requirements - look likely to be swept away by the tide of EU harmonization. Philip Eade reports on Luxembourgeois bankers' bullishness in the face of adversity


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