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44-519: The Juncker-Polfer government represented a coalition between Juncker's Christian Social People's Party (CSV) and Polfer's Democratic Party , which had been elected the largest and second-largest parties respectively in the general election of 1999 . Until 1999, the CSV had been in coalition with the Luxembourg Socialist Workers' Party (LSAP). The Juncker-Polfer government came to an end with

88-586: A "back to basics" approach which valued quality over quantity. Finally, in the context of the knowledge society, culture remained a fundamental concern. In September 2003, the Luxembourgish government proposed to extend scope of Luxembourg, the European Capital of Culture 2007, to the Greater Region , which was accepted by the jury. As a sign of its openness towards new technologies, the government launched

132-749: A Commissioner, the right to the presidency of the Council of Ministers and an adequate representation in the European Parliament . While it did not deny the necessity for a weighting by population size, it defended the principle of equality between member states. At the Council of Nice, in December 2000, the Union came to an agreement which was also satisfactory for Luxembourg. The Treaty of Nice , signed on 26 February 2001, maintained one Commissioner per member state. Following

176-469: A Swiss bank and for years deposited his Havana casino take in Miami accounts, then wired the funds to Switzerland via a network of shell and holding companies and offshore accounts. Economist and Nobel Prize laureate Joseph Stiglitz , told Komisar: You ask why, if there's an important role for a regulated banking system, do you allow a non-regulated banking system to continue? It's in the interest of some of

220-743: A client's consent. The law, coupled with a stable Swiss currency and international neutrality, prompted large capital flight to private Swiss accounts. During the 1940s, numbered bank accounts were introduced creating an enduring principle of bank secrecy that continues to be considered one of the main aspects of private banking globally. Advances in financial cryptography (via public-key cryptography ) could make it possible to use anonymous electronic money and anonymous digital bearer certificates for financial privacy and anonymous Internet banking, given enabling institutions and secure computer systems. While some banking institutions voluntarily impose banking secrecy institutionally, others operate in regions where

264-439: A decrease of tax receipts, which the government could however compensate by using budget reserves. The fiscal reforms of 2001 and 2002 concerning individuals and businesses turned out to be useful, as they contributed to maintaining domestic demand at a relatively stable level, despite economic disturbances. Despite the difficult economic context, the government maintained significant public investments. The European enlargement led

308-410: A governmental coalition. Despite remaining the largest party, the result of the 2018 general election represented the lowest public support in the party's history. + Died in office [REDACTED] Media related to Chrëschtlech Sozial Vollekspartei at Wikimedia Commons Banking secrecy Banking secrecy , alternatively known as financial privacy , banking discretion , or bank safety ,

352-747: A programme of national action, "e-Luxembourg", which made public services accessible via the Internet. The creation of a series of Internet sites by the Luxembourgish state was certainly one of the novelties of the 1999-2004 period. Citizens could now access information on public sites and undertake administrative processes online. The internal functioning of the State became more efficient. Christian Social People%27s Party The Christian Social People's Party ( Luxembourgish : Chrëschtlech Sozial Vollekspartei , French : Parti populaire chrétien-social , German : Christlich Soziale Volkspartei ; CSV or PCS )

396-463: A secretary of state, was now under a fully-fledged minister. Public development aid, which had increased constantly, reached 0,8% of gross national income in 2003. With this number, Luxembourg was in 4th place globally. The Luxembourgish effort was now concentrated geographically on a certain number of target countries, and content-wise, on eradicating poverty, social structures, education, health, and equality of opportunities between men and women. As in

440-529: Is a conditional agreement between a bank and its clients that all foregoing activities remain secure, confidential , and private. Most often associated with banking in Switzerland , banking secrecy is prevalent in Luxembourg , Monaco , Hong Kong , Singapore , Ireland , and Lebanon , among other off-shore banking institutions . Otherwise known as bank–client confidentiality or banker–client privilege ,

484-726: Is argued that these financial centers enable the actions of criminals. However, there have been attempts by global institutions to regulate money laundering and illegal activities. Numbered bank accounts , used by Swiss banks and other offshore banks located in tax havens, have been accused by the international community of being a major instrument of the underground economy, facilitating tax evasion and money laundering. After Al Capone 's 1931 condemnation for tax evasion, according to journalist Lucy Komisar : mobster Meyer Lansky took money from New Orleans slot machines and shifted it to accounts overseas. The Swiss secrecy law two years later assured him of G-man -proof-banking. Later, he bought

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528-537: Is the largest political party in Luxembourg . The party follows a Christian democratic and conservative ideology and has been described as centre to centre-right . Furthermore, akin to most parties in Luxembourg , it is strongly pro-European . The CSV is a member of the Christian Group , European People's Party , and the Centrist Democrat International . The CSV has been

572-646: The general election of 2004 , after which the LSAP once again joined the CSV in coalition and the Democratic Party returned to opposition. At the election of 13 June 1999, the two parties which had governed the country since 1984 suffered significant losses. The CSV now had 19 seats in the Chamber, down from 21 in 1994, while the LSAP received 13 seats, down from 17. The Democratic Party managed to increase its number of Deputies to 15, up from 12 in 1994. The elections confirmed

616-399: The 44 years for which MEPs have been directly elected. The party's President has been Prime Minister Luc Frieden since March 2024. A leading figure from the party is the former prime minister , Jean-Claude Juncker , who previously governed in coalition with the Luxembourg Socialist Workers' Party (LSAP) until the 2013 general election . The earliest roots of the CSV date back to

660-517: The Convention on the future of the European Union which resulted in the proposed Constitution for Europe. From 27 June 2003, the government took the decision to proceed with the ratification of the future European Constitution – once signed by the 25 heads of state or government – by a national referendum. But at the same time, Luxembourg did not intend to surrender important rights such as the right to

704-538: The European Ministers for Finances and the Economy finally reached an agreement on the taxation of revenue from savings. The agreement stipulated that EU member states could choose between two models: information exchanges between tax administrations, or the introduction of a withholding tax with a progressive increase in the rate of revenue which, after a transition period, would reach 35% from 1 January 2011. The move to

748-744: The Luxembourgish state to invest heavily in the improvement and extension of the EU's infrastructure and services, based in Luxembourg. The government was also concerned with consolidating the country as a European seat. In June 2001 building work commenced on the Place de l’Europe in Luxembourg-Kirchberg. The project included two office towers, an extension of the conference centre as well as a concert hall. The conversion of industrial wastelands of ARBED in Belval constituted

792-427: The advantage of highlighting certain imbalances and initiating a vast public debate on the means of avoiding a deterioration of the level of quality of life of Luxembourgers, while pursuing the country's economic growth. Prohibitively high housing prices had led to an urban exodus. However, the capital and its surrounding communes still contained two-thirds of all jobs. Luxembourg had become a country of long journeys, and

836-552: The connection of Luxembourg to the trans-European railway network and a new line connecting the central railway station to the Kirchberg quarter, via the airport, were considered essential investments. In March 2002, the government proposed an all-round approach to mobility and development, in order to concentrate its efforts. The result of this approach was an integrated plan for transport and spatial development ( Integriertes Landes- und Verkehrsentwicklungskonzept – IVL). This document had

880-523: The extraordinary European Council of Lisbon in March 2000, the EU had called for the formation of a "Europe of innovation and knowledge". The Luxembourgish government adopted this goal, giving a new impulse to national policy on research and technological development. In January 2000, the "Fonds national de la recherche" (National Research Fund), for which the law had been created under the previous legislature, started its work. The government also changed direction in

924-504: The financial centre, even though other sectors such as management of investment funds were developing. However, considerations of confidentiality constituted the life of private banking. In negotiations on the European level, the Luxembourgish government demanded the maintenance of banking secrecy as long as its principal financial-service competitors maintained it as well. But this confidentiality should not be used for criminal activities. This

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968-692: The foundation of the Party of the Right on 16 January 1914. In December 1944, the Party of the Right was officially transformed into the Luxembourg Christian Social People's Party. "Luxembourg" was dropped from the name by late March 1945. The first elections after the Second World War took place in 1945; the party won 25 out of 51 seats, missing an absolute majority by a single seat. From 1945 to 1974,

1012-477: The generalised automatic exchange of information was coupled to a similar action by third-party countries, including Switzerland. The government had given itself the objective of guaranteeing "the future of a small country in a growing Europe, in an increasingly complicated world". But it was in the framework of development aid that Luxembourg was probably best able to affirm its role on the international scene. Overseas aid, which in previous governments had been under

1056-480: The government had made sustainable development a policy priority. As part of its pledge to implement the Kyoto Protocol , Luxembourg had committed on the European level to reducing its greenhouse gas emission by 28% by 2012. The government also implemented a strategy aimed at promoting public transport and housing with low energy consumption, rational use of energy, and use of renewable energy. The restructuring of

1100-419: The government several times undertook a forced return of rejected asylum-seekers. While the Luxembourgish economy showed very high growth rates in 1999 and 2000, only outperformed by Ireland, the economic situation changed sharply in 2001. GDP growth fell by 5 percentage points to less than 2,5%. At the same time, the unemployment rate, which had been under 3%, grew to 4,3% by 2003. The economic slow-down brought

1144-462: The government's conviction that despite its small size, Luxembourg had to make all the more efforts to impose its presence on the international scene as the European Union grew. Luxembourgish diplomacy intensified its work not only in the old member states, but also in the new member states. Luxembourg supported an EU policy aimed at reinforcing the European institutions and their decision-making capacities. Luxembourgish representatives participated in

1188-566: The growth of small parties at the expense of the three largest parties (CSV, DP and LSAP. The Aktiounskomitee fir Demokratie a Rentegerechtegkeet received 7 seats, the Greens (Déi Gréng) received 5, and The Left (Déi Lénk) received one. The Grand Duke charged the Prime Minister, Jean-Claude Juncker, with forming a new government. Coalition negotiations were started between the CSV and the DP. On 7 August 1999

1232-515: The largest party in the Chamber of Deputies since the party's formation, and currently holds 21 of 60 seats in the Chamber. Since the Second World War , every Prime Minister of Luxembourg has been a member of the CSV, with only two exceptions: Gaston Thorn (1974–1979), and Xavier Bettel (2013–2023). It holds two of Luxembourg 's six seats in the European Parliament , as it has for 14 of

1276-457: The majority of these took place by car. The IVL sought to bring places of work, housing and leisure closer together. It proposed a development model based on three urban areas, separated by green belts: the Southern region of the country, the capital, and the " Nordstad ". These three urban centres should possess the necessary economic, social and cultural infrastructure to function independently. At

1320-545: The moneyed interests to allow this to occur. It's not an accident; it could have been shut down at any time. If you said the US, the UK, the major G7 banks will not deal with offshore bank centers that don't comply with G7 banks regulations, these banks could not exist. They only exist because they engage in transactions with standard banks. Further research in politics is needed to gain a better understanding of banking secrecy. For instance,

1364-653: The new CSV-DP government was sworn in. European questions continued to dominate Luxembourg's foreign policy. The period from 1999 to 2004 was devoted to enlargement of the European Union and institutional reforms that went with it. On 16 April 2003 in Athens, 10 new member states (Estonia, Hungary, Lithuania, Latvia, Poland, Slovakia, Slovenia, the Czech Republic, Cyprus and Malta) signed the treaty of accession. Their admission came into force on 1 May 2004. The European Union now counted 455 million residents. This evolution confirmed

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1408-665: The new distribution of votes, Luxembourg now had four votes in the Council of Ministers and continued to send six members to the European Parliament. At the European Council of 17 to 18 June 2004, the 25 EU member states managed to find agreement on the Treaty establishing a Constitution for the European Union . This agreement made Europe more efficient and transparent, reducing the number of decision-making instruments in European institutions, and more democratic through an increase in

1452-485: The party was in government and gave Luxembourg the following Prime Ministers: Pierre Dupong , Joseph Bech , Pierre Frieden , and Pierre Werner . Mostly in coalition with the Democratic Party (DP), it gave Luxembourg a certain economic and social stability. In the 1950s, the party structure underwent a certain democratisation: the party's youth section (founded in 1953) and women's section received representation in

1496-482: The party's central organs. The party went into opposition for the first time in 1974, when the Democratic Party's Gaston Thorn became Prime Minister in coalition with the Luxembourg Socialist Workers' Party (LSAP). In 1979, the party returned to government after its victory in the 1979 general election ; Pierre Werner became PM. In 1984, Jacques Santer became PM. He remained as such until 1995, when Jean-Claude Juncker became PM, with Santer meanwhile taking up

1540-420: The past, the vagaries of the international situation translated themselves into migration movements, which also affected Luxembourg. Especially from 2002, there was increased number of asylum-seekers, which led the government to adapt legislation. The objective was to speed up the procedure, while respecting human rights as well as related international agreements and treaties. In the course of the period 1999-2004,

1584-494: The post of President of the European Commission. Following the 2013 general election , the party went into opposition for the second time in its history as the Democratic Party's Xavier Bettel became Prime Minister in coalition with the LSAP and The Greens , making it the first time in Luxembourg's history that a three-party coalition government had been formed. This also marked the first time that The Greens were part of

1628-469: The powers of the European Parliament. At the same time, the new text respected the equality between member states, while consecrating the principle of demographic difference. Finally, the constitutional treaty allowed Luxembourg to retain its six European Parliament members. The question of tax harmonisation touched on a vital interest of the Grand Duchy. Wealth management remained the principal activity of

1672-483: The practice is legally mandated and protected (e.g. off-shore financial centers ). Almost all banking secrecy standards prohibit the disclosure of client information to third parties without consent or an accepted criminal complaint . Additional privacy is provided to select clients via numbered bank accounts or underground bank vaults. Recent research has indicated that the use of offshore financial centers has been of concern because criminals get involved with them. It

1716-602: The practice was started by Italian merchants during the 1600s near Northern Italy (a region that would become the Italian-speaking region of Switzerland). Geneva bankers established secrecy socially and through civil law in the French-speaking region during the 1700s. Swiss banking secrecy was first codified with the Banking Act of 1934 , thus making it a crime to disclose client information to third parties without

1760-406: The second large construction project started under this government. This development project which aimed to improve the Southern region, manifested the government's decentralisation policy. In February 2001, the company Agora, including representatives of the State, ARBED, and the communes of Esch-sur-Alzette and Sanem , was created to develop the wastelands. The Fonds Belval, a state-owned company,

1804-554: The steel industry had already made it possible to reduce emissions significantly. However, the high petrol use, caused by the low taxation of fuel which attracted large numbers of cross-border customers, made it difficult to comply with the Kyoto commitments. In January 2002, the Minister for Transport presented the programme mobiliteit.lu, whose main goal was to persuade one quarter of travellers in Luxembourg to use public transport. In this light,

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1848-634: The university policy it had pursued until then. It decided to create the University of Luxembourg . This was to be a public institution with an international dimension, offering multilingual teaching and personalised support, and which would have a great interest in the mobility of its students. In the area of secondary education, it also became necessary to undertake some critical examination. The Programme for International Student Assessment (PISA), which evaluated students' performances, put Luxembourg in 30th place out of 32 countries. The priority in future would be

1892-596: Was charged with realising the government's plans on the Belval-Ouest site and to showcase the blast furnaces . The industrial wastelands would host the "Centre de musiques amplifiées" ( Rockhal ) and a "Cité des sciences, de la recherche et de l’innovation". In healthcare, the government would concentrate its efforts to stem the explosion of costs. A hospital plan provided for the reorganisation of healthcare, by putting more emphasis on outpatient treatment, and rationalising and modernising existing infrastructures. Very quickly,

1936-569: Was why the previous government had put through anti- money laundering legislation. The Juncker-Polfer government extended these measures to improve the effectiveness of the fight against fraud and economic and financial crime. In terms of tax harmonisation , the European summit of Feira in June 2000 was a way towards a compromise. An action plan with a deadline of 2010 was agreed. In January 2003 in Brussels. in an "Economic and Financial affairs" council meeting,

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