Few people think ‘Luxembourg’ when they think of tax havens, but they should. In Treasure Islands I described Luxembourg as a great dark horse of the offshore world. The Financial Secrecy Index ranks it as the world’s second-biggest secrecy jurisdiction, after the United States.
Now, from Access Info, a human rights organisation focused on civil liberties and access to information:
Today marks exactly eleven years since Luxembourg’s “freedom of access to information” law was first proposed, but the law has not yet been adopted.
. . .
Globally there are around 90 access laws, with most recent adoptions being Nigeria (28 May 2011) and Mongolia (16 June 2011). In the EU only Cyprus, Luxembourg and Spain do not yet have a law guaranteeing the public’s right to know about the functioning of the State.
“Luxembourg, one of the wealthiest countries in the world, is failing to achieve even minimum standards when it comes to open government, public participation, and accountability,” commented Helen Darbishire, Executive Director of Access Info Europe.”
Luxembourg may be more transparent than Nigeria in some respects – but not in this particular one, it seems.
Hat tip: Markus Meinzer.