Word: luxembourg
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...This is a good job, although acrylic is not very French--the best material is pure wool," said Corinne Vitte, a French national working in Luxembourg...
...from its domestic competitors. Ford's losses from July through September hit $574.4 million, while during the same time GM's cash tank leaked $1.1 billion. All in all, the Big Three have seen losses since the beginning of the year of $5 billion -- equivalent to the GNP of Luxembourg...
Even as those probes got under way, investigators in Colombia and Luxembourg examined dealings between Jose Gonzalo Rodriguez Gacha, a leader of the Medellin cocaine cartel who died in a 1989 shootout with police, and a Colombian shadow bank that B.C.C.I. used to launder drug money. Among other things, the probers want to know why Colombian prosecutors slapped B.C.C.I. with a token $10,000 fine after discovering that the shadow bank took in a whopping $45 million in foreign currency in just six months in 1986 -- six times the amount B.C.C.I.'s Colombia branch reported for the entire year...
...crude attempt to comply with Western regulators' demands for acceptable profit and loss statements. U.S. and British authorities would naturally scoff at that explanation. They contend that B.C.C.I. flourished as a criminal enterprise largely because it was carefully constructed to take advantage of such tax havens as Luxembourg and the Cayman Islands, which provide virtually no regulation...
...must be brokered internally, not imposed by external forces. The E.C. would like to oblige, but fears are growing that a European military intervention might be necessary. "The moment may not be too far away when we have to take a step forward," Jacques Poos, the Foreign Minister of Luxembourg, warned last week. The E.C.'s proposal for a three-month moratorium on independence offers the same face- saving opportunity that quieted hostilities in the breakaway republic of Slovenia. The republics' leaders could use the cooling-off period to consider how the region might be stitched together again...