Friday, March 29, 2013

Juncker's Luxembourg in the Eurogroup's crosshairs

Diesel-b*mb calls out Jean-Claude Juncker's Luxembourg, pointedly remarking they better get their asset-to-GDP ratio down.

Eurogroup chief Jeroen Dijsselbloem fanned the flames in an interview this week, advising Luxembourg to cut leverage in its financial system and slim down its banks. “Deal with it before you get into trouble,” he said.
The comments caused fury in the Grand Duchy. “We do not attract Russian money to Luxembourg with high interest rates. The Luxembourg financial centre is based on several pillars, we are characterised by the breadth of our product range,” said premier Jean-Claude Juncker.
This recalls to mind Juncker's indignant interviews in April/May 2011 where he ultimately admitted "when it becomes serious you have to lie."  I suppose Luxembourg coming under attack would be a serious enough situation that one would have to lie.

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