Great news for Luxembourg:
The rating agency Moody’s has confirmed Luxemburg’s AAA rating with a stable outlook.
One of the main reasons is “Luxembourg’s robust growth performance and extraordinarily high wealth levels”.
Some further reasons are a “very strong institutional framework, reflected in very strong governance indicators and effective financial services sector regulation and supervision” and furthermore “the very high fiscal strength, exemplified by general government fiscal surpluses, low and declining government debt levels, and sizable public sector assets”.
This makes Luxembourg a great country to work in, to invest in and to set up a business in.
Luxemburg has a healthy institutional framework: As per Moody’s “Luxembourg scores strongly in the Worldwide Governance Indicators, which Moody’s uses as starting point for assessing institutional strength. Within the universe of sovereigns rated by Moody’s, Luxembourg ranks above the 90th percentile for government effectiveness, control of corruption, and rule of law.”
There is also a so called Systemic Risk Committee which consists of the Ministry of Finance, the Banque centrale du Luxembourg (BCL), the Commission de Surveillance du Secteur Financier (CSSF) and the insurance supervisor Commissariat aux Assurances. This committee regularly analyses any links between banks, investment funds and insurances, belonging to the macroprudential oversight of the entire financial sector and it’s dependencies.
Remember: There are currently only 11 countries with a triple A rating and Luxembourg is one of these countries.
There are some other interesting reasons why working in Luxembourg makes sense.
1. Most Luxembourgish people are multilingual, speaking 3-4 languages: Luxembourgish, German, French, and English
2. Luxembourg is in the centre of Europe with many European cities and financial centres being less then one hour away: London, Berlin, Frankfurt, Paris, Milan, Amsterdam.
3. In April 2020, Luxembourg will be the first country in the world to offer all public transport for free
4. Luxembourg is one of the safest cities in the world
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