Luxembourg is available to reduce banking secrecy!!!

Faisal Islam‏@faisalislam14 min
@meljomur the euro is here to stay. Not necessarily with entirely the same team though.

zerohedge‏@zerohedge35 s
Collective Will to Keep Euro Has Been Underestimated: Lagarde

Tilo Jung‏@TiloJung3 min
.@faisalislam Merkel can relax, forget Peer and just has to make sure her EU house of cards doesn't collapse until September.

Austria refuses to lift banking secrecy, unlike the Luxembourg Austria continues to refuse to lift banking secrecy, despite the great pressure around tax havens and fraud and then keep a straight Luxembourg have said be prepared to take action accordingly.

"The Austrian position is unchanged," said Gregor Schütze, spokesman for the Austrian Minister of Finance Maria Fekter the conservative, estimating that recent events should not change the Austrian position.

Austria, and Luxembourg, were so far only two countries of the European Union (EU) to refuse under banking secrecy, the automatic exchange of information on the accounts of European Union residents in their country, under judicial requests.

The finance minister of Luxembourg, Luc Frieden, said Thursday a German newspaper that the country is prepared to slightly reduce banking secrecy and wants to strengthen cooperation with foreign tax authorities.

"The international trend towards the automatic exchange of information on bank deposits. We no longer strictly opposed to it," said the official, who admits giving information to the countries of origin for the payment of interest to foreign customers.

German and French Ministers of Finance Wolfgang Schäuble conservative and socialist Pierre Moscovici, as well as the European Commission, requested the lifting of bank secrecy in both countries.

"I think this situation will change, taking into account the latest developments," the German minister said on Friday a German public radio.

In turn, the Austrian counterpart, Maria Fekter aims to promote bilateral agreements, such as that Austria signed with Switzerland in April 2012 and Liechtenstein in January 2013, the way that the Minister considers "more effective".

"People have the right to have your savings account protected, not only in monetary terms, but also excessive access, which would not happen with the automatic exchange of bank information," he said. [link to www.ionline.pt]

Russian Market‏@russian_market17 m
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