Luxembourg PM laments US tax haven stance

Luxembourg prime minister Jean-Claude Juncker has said US president Barack
Obama needs to concern himself with tax issues in the US before instructing the
financial centres of Europe.

Juncker made the assertion in a speech to the European Parliament and implied
it was hypocritical of Obama to criticise banking secrecy laws in places such as
Luxembourg, Switzerland and Austria, according to

He said if these jurisdictions are to be blacklisted for their privacy laws,
then the US must be subject to the same rules.

‘The G20 has no credibility as an undertaking if Delaware, Wyoming or Nevada
or far-flung islands from the United States are not on the blacklist,’ he said.

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