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The internationalization of savings investments: The example of Luxembourg

April 13, 2016 @ 6:30 pm - 8:30 pm

Free

Guest: Prof. Dr Christopher Kopper (Universität Bielefeld)

Since the 1970s, the economic structure of Luxemburg underwent a fundamental change. The stronghold of iron and steel transformed into Europe’s third biggest hub for the Eurocurrency market, just behind London and Paris. Which were the reasons for this transformation? From its very beginning, the banking hub Luxemburg was characterized by highly attractive institutions. Luxemburg benefited from the growing supply of money and capital seeking investments – and the growing monetary demand of lesser-developed nations. In addition, Luxemburg positioned itself as favorite place for private wealth management. Government decisions during the late 1970s turned Luxemburg into a low tax resort for tax-conscious foreign investors comparable only to Switzerland. Ten years later, Luxemburg banks generated 25% of Luxemburg’s tax revenues. Luxemburg’s biggest foreign bank passed the steel industry as the biggest corporate tax payer. The liberalization of transnational banking in Europe even enhanced the favorable position of Luxemburg as a European center of banking.

Details

Date:
April 13, 2016
Time:
6:30 pm - 8:30 pm
Cost:
Free
Event Category:
Event Tags:
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Organiser

Let’s Talk About History!

Venue

Université du Luxembourg – Campus Limpertsberg
162a, avenue de la Faïencerie
Luxembourg, Luxembourg
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Website:
uni.lu