Word: luxembourger
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...value of all euro notes. The ecb issues them in response to demand - businesses find high-denomination euro notes convenient. Sadly, so do thieves. The ecb argues that several E.U. countries had high-denomination banknotes before the euro arrived. Indeed they did. Not coincidentally, those countries (Belgium, Germany, Italy, Luxembourg, the Netherlands and Austria) shared ever-increasing drug trafficking and money-laundering problems, in large part because of their high-denomination notes. The ecb stoutly maintains that issuing high-denomination notes does not in itself encourage underground or illegal transactions. The key words there being "in itself." The plain truth...
PARIS—My first morning in Paris, I decided to start off on the right foot and take a jog through le Jardin du Luxembourg. This is a park created by Marie de’ Medici to remind her of her home in Italy, a park so strictly groomed that it reminded me nothing of my home in the wild New York woods. At dinner with my host family the night before, I had caught a glimpse of what lay ahead of me for the month of June. Having carefully considered the amounts of Camembert involved, I figured...
...economic liberal and an Atlanticist - but not an Anglo-Saxon - he should have been able to bridge the gap between new and old Europe that opened up before the Iraq war. Above all, he was a fresh face. The two previous presidencies, led by Jacques Santer of Luxembourg and Romano Prodi of Italy, had left many disappointed and hoping for a new impulse. They're still waiting, more than a year into Barroso's term. Despite his pedigree, he still hasn't been able to stamp his character on Brussels. To an extent, that is understandable; every President...
Dollé, 63, is chief executive of Luxembourg-based Arcelor, Europe's biggest steel company, measured by revenue, which was formed in 2002 out of what was left of the French, Belgian, Luxembourgian and Spanish steel industries. Mittal, 55, is the Indian-born chairman of the world's biggest producer of steel, Mittal Steel, which he built up over the past decade with a slew of acquisitions, in the process making a fortune for himself estimated at $25 billion. The two men have known each other for years and, as board members of the steelmakers' international trade group, meet regularly...
...well have dunked a croissant in hot vindaloo curry sauce. In much of Europe, Mittal's move was viewed as a rough attempt by "new" India to take on "old" Europe. France's Finance Minister Thierry Breton accused Mittal of having "a grammar problem" and the Prime Minister of Luxembourg, Jean-Claude Juncker, declared: "This hostile bid by Mittal Steel calls for a reaction that is at least as hostile." Dollé worked hard to encourage public opposition, dismissing Mittal as a low-grade operator specializing "in buying up obsolete installations at low cost." Mittal himself insists that the deal...