Luxembourg may consider opening up its massive banking sector to greater scrutiny following concerns people are stashing away wealth from foreign tax inspectors.
Luxembourg’s finance minister Luc Frieden told Germany's Frankfurter Allgemeine Sonntagszeitung on Sunday (7 April) that the country wants “to strengthen cooperation with foreign tax authorities”.
The 500,000-strong nation has a banking and financial sector around 20 times greater than its annual economic output.
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Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.