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Luxembourg is not just strong because of its investment fund industry, it has many pillars”, Luc Frieden (picture), Luxembourg’s Minister of Finance, said at the ALFI-NICSA conference in Luxembourg, where 750 delegates from the fund industry are registered. To Mr Frieden, ESM, the new mechanism to stabilise the Eurozone, is the best proof that Luxembourg has become the financial capital of the Eurozone. The ESM, which starts next month, has set up its headquarters in the Grand Duchy.
“The conference takes place at a difficult time; this is true for my country and even more so for most of the other countries in Europe”. Finance Minister Luc Frieden is positive that the governments of the Eurozone are on the right path but far from being out of the woods. The national...
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