Luxembourg to discuss expert groups on Ukraine recovery
As an international financial hub, Luxembourg is seen as well positioned to play a key role in talks about strengthening and financing the recovery of Ukraine’s economy once the war is over. A Luxembourg roundtable, scheduled for 22 February, will discuss Luxembourg’s potential role and seeks to create a number of expert-based working groups. (Free to read)
Bettel urges caution on banning Russia from Swift
Luxembourg fully supports the European Union’s additional sanctions against Russia over its aggressive move towards Ukraine but supports a cautious approach with the EU’s plans to eject Vladimir Putin’s country from the international payments system Swift. If that happens Russia will in essence be cut off from the world economy.
Lux PM Bettel: ‘Taxes are poison’
‘Taxes are poison for companies hit by the crisis,’ Xavier Bettel told a Luxembourg for Finance online panel on Thursday. He added that when seeking to restore balance to state finances ‘we want to avoid any tax rise.’ Instead ‘maybe we’ll have to cut or delay some projects.’
That said he had no regrets about the government’s aggressive support measures for the Luxembourg economy. ‘This money has been some of best investment we could do,’ he said.