Luxembourg’s Finance Minister, Pierre Gramegna, denies a recent report accusing his country of striking secret tax deals with multinational companies. Instead, he insists Luxembourg is in fact leading the global fight against tax fraud. He notes, however, that the EU may never get back the millions of euros it is owed in taxes, saying it is a great likelihood that they have been forever lost in a system in which countries help companies dodge taxes.
Gramegna also says things seem to be going well in Greece as Athens is meeting its benchmarks. But, he warns, even though lessons have been learned from past bailouts, a potential default can never fully be ruled out.
And Luxembourg, which is the EU’s second biggest financial hub after London, does not want to see Britain leave the EU. Gramegna argues that while some analysts may think the grand duchy could benefit from a Brexit and become “The city”, he is convinced that staying together will be more profitable in the long run.
A programme presented by Eve Irvine
Produced by Isabelle Romero and Mathilde Benezet