Word: luxembourgeoise
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Surrounded by Belgium, Germany and France, the thousand-year-old Grand Duchy of Luxembourg has long been a popular parade ground for foreign armies. In the past two centuries there have been 14 invasions, mostly swift and successful. But most invaders find the Rhode Island-sized polity a nice place...
So it goes with the latest invasion. Foreign capital and companies have been pouring into Luxembourg ever since the Nazis left. By now almost all the country's major industries are foreign-owned. One-fifth of its residents are aliens. Only a fraction of the $6 billion on deposit...
Bank Paradise. The banking gnomes of Luxembourg have made their country into the world capital for a new kind of capital: the Eurobond. Issued abroad by both U.S. and foreign companies and usually payable in dollars, Eurobonds are used to tap the $60 billion in American money that is sloshing...
Folksy Touch. While Luxembourgeois do not object to foreigners owning much of their country, they insist on keeping their reputation for integrity unspotted. Regulatory procedures are being tightened. So far this year, the Eurobonds of six U.S. companies have been removed from trading on the stock exchange. "We are not...
Glinne's ire is focused on the case of tiny, traditionally Catholic Luxembourg. Because of historic church opposition to cremation, Luxembourg has no crematoriums of its own. Until mid-1968, when the Six abolished international customs and substituted a complex system of "taxes on value added" (T.V.A.), this was...