The rumor was a rumor!
The rumor we heard has already been denied: Andy Schleck won’t be in a Lance Armstrong led Radioshack team in 2010, but continue with his brother Frank Schleck in their affiliation with Saxobank.
As a consequence, Tour de France 2010 has already three main contenders: Alberto Contador, Andy Schleck and Lance Armstrong, actually the podium of Tour de France 2009. Andy Schleck being the youngest of the three seems to have the greatest potential for improvement, mostly in the time trials. And his age makes him a real candidate for the yellow jersey in Paris in 2010.
This is a good reason enough for him not to tie himself in with another ambitious leader of another team, Lance Armstrong.
A second look.
However, let’s have a look at what would have been or could have been, if Andy Schleck would have signed up with Lance Armstrong and Radioshack. It is not a futile exercise, but rather part of a necessary due diligence about a career move. A professional cyclist’s retirement age comes early. Many never have revenues that rise to the level of minimum wages. There might be 500,000 to 1,000,000 people on the slopes of Mont Ventoux. But no one pays a dime, contrary to what fans would have to shell out in any other type of sport. So our heroes are paid for their very hard work by their sponsors, or from winning prizes and from endorsements. A successful champion can have a lucrative second job as an official endorser. How lucrative that is, depends on the market, in which people identify with him. For Andy Schleck, that’s 500,000 people in Luxembourg. For Lance Armstrong, that’s 300,000,000 Americans or 600 times Luxembourg. This brings me to the interesting point of what if.
Yes, what if?
What if we had had an Armstrong-Schleck association within a Radioshack team? Andy Schleck would have had to scale back his ambition to win the Tour for another year: Lance wants to win an 8th Tour. But Andy Schleck would have learned from a great master. A man who won so many competitions, who overcame immense adversity, who has proven his courage, who demonstrates an unfailing discipline, who almost scientifically has dissected all aspects of cycling from aerodynamics to equipment and nutrition, who operates according to his plan, and in my mind who exerts some kind of mental dominance by just showing up. Though this looks like blind fiery fan talk, I believe this is a cold assessment of what that man is. He won seven Tours!
Even associated with Lance Armstrong, Andy Schleck had still a chance to win the tour in 2010. Indeed it is a long way to Paris. If not, with a mentor like Lance Armstrong, Andy Schleck would have been the top contender in 2011 and many years thereafter. So we are talking about fame delayed for one year, because of a self-imposed hiatus to learn from the master and help him achieve his 2010 goal.
There lies the interest for such an association for Andy Schleck. His association with Lance Armstrong drags him from a small regional European market for endorsements into the arms of a continental market. His association with Armstrong would have created that missing link to the American public, which is very ready and open to consider someone who spreads good vibes as one of their own. And as a daily viewer of the Tour on the US channel Versus, I witnessed the sympathetic comments that the Schleck brothers earned there on a daily basis. The US market for endorsements is already half open!
Next steps, if I may!
In these days of beer diplomacy, why wouldn’t you, the Schleck brothers, and Lance come by and have a beer with me, and we’ll sort it out.
And now, I have to say it, I can’t hold it back anymore: Radioschleck!
Friday, July 31, 2009
Thursday, July 30, 2009
Luxembourg's Deputy PM Helps Secretary of State Clinton to Close Guantanamo
A link to a video of a visit by Mr Jean Asselborn, Deputy PM of Luxembourg to Secretary of State Hillary Clinton, Washington, July 30, 2009.
http://secretaryclinton.wordpress.com/2009/07/30/video-secretary-clinton-deputy-pm-of-luxembourg/
http://secretaryclinton.wordpress.com/2009/07/30/video-secretary-clinton-deputy-pm-of-luxembourg/
Monday, July 27, 2009
Luxembourg, Tour de France and Schleck and Schleck.
Luxembourg, Tour de France and Schleck and Schleck.
There are many reasons for this feature about the Tour de France to appear in this blog.
There is first of all the best performance of Luxembourg participants in the Tour in more than fifty years by Andy Schleck, finishing second and his brother Frank Schleck finishing fifth in the overall race. Never since Charly Gaul won the Tour in 1958 has there been such a successful Luxembourg presence.
There is first of all the best performance of Luxembourg participants in the Tour in more than fifty years by Andy Schleck, finishing second and his brother Frank Schleck finishing fifth in the overall race. Never since Charly Gaul won the Tour in 1958 has there been such a successful Luxembourg presence.
Egide Thein, Cyclo Cross Millebaach, Luxembourg, ca 1963.There is also a bit of personal nostalgia, as a long time ago I was among the handful of aspiring champions in my small hometown of Beckerich, Luxembourg, dreaming about winning the Tour de France one day. My comrades in pedals were Johny Wiltzius, Marcel Holtgen and Gusty Petry. We joined the Union Cycliste de Dippach as Cadets and Juniors. It was a prestigious club to which belonged Charly Gaul and a certain Johny Schleck, Frank’s and Andy’s father. So far, I haven’t won the Tour de France yet. But Lance Armstrong is not foolish enough to count me out yet.
Emile Lamberty, Pierre Meyer, Marcel Holtgen and Egide Thein of Union Cycliste Dippach, Luxembourg ca. 1963.
And finally, there is the unavoidable link between banking and Luxembourg. The Schleck brothers ran for team Saxobank, a sexy bank in Denmark. This makes our two brothers, Banker’s Schlecks. They traveled 3,500 km over the Tour, and that makes them Traveler’s Schlecks. Over time Frank became Andy’s water bearer: he was the Bearer’s Schleck, whereas Andy saw his second place guaranteed. Yes, you got it. Andy was the Guaranteed Schleck. As the best young rider, he earned the white Jersey, which made him the Blank Schleck.
It is really a marvelous story for the Schleck Book.
I watched the Tour daily and with great pleasure, on a US channel, “Versus”, with outstanding professional comments, and on French TV5 America, great pictures and endless meaningless verbiage. It took an interview with French President Sarkozy on TV5 to get some excellent comments about the great event and indeed about the riders. The news even trickled down to my local newspaper, the “Naples Daily News”, which showed pictures of Frank and Andy. Of course there was one with Andy showing his now legendary tongue. Did you know that if kids do that, they are told in Luxembourgish that they let the “Schleck” out?
Congratulations to Frank and Andy! This was hard work, good tactics and good emotions. Thanks for a very good job. How come you are not at UC Dippach?
Egide Thein
PS. I hear that Lance Armstrong, for his next year’s team, wants to sign the Schlecks?
Tuesday, July 14, 2009
Luxembourg: HSBC Securities Services (Luxembourg) S.A. Sued by Madoff Trustee.
According to Bloomberg, HSBC is being sued by the trustee liquidating the Madoff businesses, Irving Picard, who claims $578 million in fake profits. It names among others HSBC Securities Services (Luxembourg) S.A.
The case is filed at the U.S. Bankruptcy Court of lower Manhattan.
Another lawsuit, filed in Luxembourg earlier this year by Herald Fund against HSBC Securities Services (Luxembourg) S.A. claims €1.6 billion ($2.24 billion).
Through this claw back action the trustee seeks to recuperate fake profits distributed to Madoff investors.
Go to: http://www.bloomberg.com/apps/news?pid=20601103&sid=ap_IrHXWzEFk
Egide Thein
feierwon.blogspot.com
peckvillchen.blogspot.com
The case is filed at the U.S. Bankruptcy Court of lower Manhattan.
Another lawsuit, filed in Luxembourg earlier this year by Herald Fund against HSBC Securities Services (Luxembourg) S.A. claims €1.6 billion ($2.24 billion).
Through this claw back action the trustee seeks to recuperate fake profits distributed to Madoff investors.
Go to: http://www.bloomberg.com/apps/news?pid=20601103&sid=ap_IrHXWzEFk
Egide Thein
feierwon.blogspot.com
peckvillchen.blogspot.com
Monday, July 13, 2009
Switzerland, Luxembourg, Other Offshore Centers on Alert
Remember this name: Steven Michael Rubinstein.
Steven Michael Rubinstein, age 55, of Boca Raton, FL, a wealthy accountant at a yacht building company was the first US citizen to be arrested on 2 April 2009 for tax evasion, linked to the new war on tax havens. He is accused to have established an offshore corporation in the BVI to hide his identity as the beneficiary of an account at Swiss bank UBS, holding about $6 million. His trial in the US District Court of South Florida is scheduled for September 30, 2009. He has pleaded guilty and will pay a fine equal to 50% of the highest balance on the account. If convicted he faces total loss of his property and, up to five years in prison for tax evasion and three years for filing false tax returns. He is currently free on bail of $12 million.(1)
UBS, in the context of its assistance to that type of US client, paid a fine of $780 million. Earlier this year Raoul Weil, who was a senior executive at UBS was charged with conspiracy to hide $20 billion from thousands of US customers from the IRS. UBS, agreed to communicate a small number of names of their 52,000 US customers, thereby breaking Swiss secrecy laws. UBS and the Swiss Government are still fighting a US request to communicate the remaining 50,000(+) names.
Any offshore center should be aware that this latest episode is the end of banking secrecy and of the type of tax evasion it encouraged. A US citizen would be out of his mind to go that slippery slope from now on. Swiss banks actually too, and they shun the American client like fire. This development will not stay confined to the only Swiss and US parties. The operation is on its way, OECD providing the vehicle.
But the question remains for the existing client, still hiding from the tax man, and who gets caught in this storm. He is guilty of course, and will get caught. But what about the bank, which encouraged this, the jurisdiction which advertised the scheme and protected it by its own laws, supervision and regulations?
I would not be surprised to see legal actions from both sides: the US Government as it did already with UBS, and the clients who were falsely promised no taxes, secrecy, shelter and impunity. Those clients are mad as hell. Offshore centers beware!
Egide Thein
egidethein.blogspot.com
feierwon.blogspot.com
peckvillchen.blogspot.com
(1) http://www.usdoj.gov/usao/fls/PressReleases/Attachments/090402-01.ComplaintAndAffidavit.pdf
Steven Michael Rubinstein, age 55, of Boca Raton, FL, a wealthy accountant at a yacht building company was the first US citizen to be arrested on 2 April 2009 for tax evasion, linked to the new war on tax havens. He is accused to have established an offshore corporation in the BVI to hide his identity as the beneficiary of an account at Swiss bank UBS, holding about $6 million. His trial in the US District Court of South Florida is scheduled for September 30, 2009. He has pleaded guilty and will pay a fine equal to 50% of the highest balance on the account. If convicted he faces total loss of his property and, up to five years in prison for tax evasion and three years for filing false tax returns. He is currently free on bail of $12 million.(1)
UBS, in the context of its assistance to that type of US client, paid a fine of $780 million. Earlier this year Raoul Weil, who was a senior executive at UBS was charged with conspiracy to hide $20 billion from thousands of US customers from the IRS. UBS, agreed to communicate a small number of names of their 52,000 US customers, thereby breaking Swiss secrecy laws. UBS and the Swiss Government are still fighting a US request to communicate the remaining 50,000(+) names.
Any offshore center should be aware that this latest episode is the end of banking secrecy and of the type of tax evasion it encouraged. A US citizen would be out of his mind to go that slippery slope from now on. Swiss banks actually too, and they shun the American client like fire. This development will not stay confined to the only Swiss and US parties. The operation is on its way, OECD providing the vehicle.
But the question remains for the existing client, still hiding from the tax man, and who gets caught in this storm. He is guilty of course, and will get caught. But what about the bank, which encouraged this, the jurisdiction which advertised the scheme and protected it by its own laws, supervision and regulations?
I would not be surprised to see legal actions from both sides: the US Government as it did already with UBS, and the clients who were falsely promised no taxes, secrecy, shelter and impunity. Those clients are mad as hell. Offshore centers beware!
Egide Thein
egidethein.blogspot.com
feierwon.blogspot.com
peckvillchen.blogspot.com
(1) http://www.usdoj.gov/usao/fls/PressReleases/Attachments/090402-01.ComplaintAndAffidavit.pdf
Monday, July 6, 2009
Luxembourg, OECD and Madoff: The Question of TJH
Luxembourg’s Minister of the Treasury, Luc Frieden, gave an interview recently at Bloomberg (1), in which he discusses the ins and outs of the Madoff case in Luxembourg. Referring to disputes between investors in Luxembourg investment funds linked to Madoff, and custodians, he has something to say to everyone:
1. “The principle is very clear: the custodian bank has to indemnify investors,”
2. “An international arbitration will be a more professional and fast solution that is probably more satisfactory to all,” said Frieden, who may become Luxembourg’s finance minister after the June 7 elections. “I prefer an arbitration of two, three years than having 100 court cases decided in 10 years.”
I wholeheartedly agree. That is what I thought myself, but here it is confirmed, clearly and frankly by the Minister of the Treasury and Justice, and according to some, future Minister of Finance.
By subscribing to the minister’s opinion, I would also assert some personal expertise in these areas, and certainly also similar objectivity in my comments. They are based on my unique perspective of a former "insider," now fairly distant geographically from Luxembourg for the last twenty years, which makes me a neutral observer. At the same time, at this very moment, unfortunately, I am also a “consumer” of Justice in Luxembourg, which provides me with another unique expertise.
Both statements by the Minister implicitly are a diagnosis of TJH, tax and judicial haven.
The tax haven attracts capital, clean and unclean, and those attract all kinds of Madoffs. Madoff operations in the world can only work in specific ecosystems, where those favorable legal, regulatory and financial environments meet. At this intersection we find money searching for easy income, tax exemption, lax regulations, secrecy and indeed vulnerable investors. Fraud quickly takes on its own momentum with handlers and facilitators, who often will be locals and will be inadvertently or willfully blind.
The Luxembourg judicial haven reduces the risk of consequences if ever someone gets caught. There is no doubt that we are in a judicial haven, if the Minister of Justice says that it is best to resort to private arbitration, rather than the formal justice of his own country, because it will take 10 years to reach a conclusion. He does not exclude that justice could be called biased, which I don’t think it is so far. We know there are other criteria by which the OECD defines a judicial haven, but they are minor compared to such a candid statement.
What are the risks to the participants in the Luxembourg Madoff scenario? It depends on which actor is considered, and there are three categories: the investor, the fraudster and Luxembourg State.
1. The investor of course, loses all, his capital, his sleep and his quality of life. A lawsuit in his home jurisdiction is precarious, especially when it comes to "black money" hiding in the tax haven. The gangsters know that. Luxembourg remains the only way to obtain a remedy, but it took already more than six months for any Luxembourg authority to establish clear principles surrounding the Madoff case. The impressionistic blur created by the unfortunate intersection of the rules and regulations of the financial center and Luxembourg civil law does not allow for quick fixes that are essential in such disputes. But the minister said it himself: procedures can last 10 years. This is totally unacceptable, but he spoke the truth. I can personally attest to it by the following:
In 2004 I filed a civil lawsuit against two business associates, two well known characters in Luxembourg, for breach of contract. As there is a suspicion of abuse of corporate assets and fraudulent bankruptcy, a criminal complaint was filed and received by the Luxembourg Court. I was told that Luxembourg curators generally ignore evidence of fraud in bankruptcy, and almost never file criminal charges. Impunity is almost guaranteed! It is also true that courts lack the means that would be commensurate with the size of the financial center. This applies also to an inadequately understaffed Judicial Police, and certainly also the country’s “Financial Investigation Unit”, or FIU. One result is that in my case, justice has yet to be done, whereas we write 2009 already. This starkly confirms the minister's quote that it might take ten years to reach a verdict. Justice is delayed, and as the proverb says: "Justice delayed, is justice denied." (2)
2. The fraudster has a good chance to get away with his crime cheaply. Thus, Madoff could go on until the collapse of his infernal machine, which gave him more than 35 years of impunity. This is not really due to a deficiency of Luxembourg supervision. But let’s admit what stroke of brilliance it would have been, if Luxembourg had unmasked Madoff several years ago! Luxembourg operators, banks and professionals involved had certainly even a higher chance than regulators to uncover the fraud, if only they had considered further that the investment opportunity was too good to be true. And who knows, maybe Madoff has been unmasked, but then the fraud buster became an accomplice, well knowing that he had the same level and probability of impunity than Madoff. I learned from Luxembourg sources that are usually well informed, because information is not publicly available due to the notorious lack of transparency that in a recent case of a financial scandal the local "handler" in chief, who is prominently known, got away with a fine of € 1500 for his personal violations of the law. There is no cheaper lottery in the world, where you win a prize every time. Who says crime does not pay?
In my personal case, described above, the two defendants are conducting a public life without hindrance for more than 5 years already, a bit like Madoff did before his fall.
There is still something to be said about sanctions for fraudsters in Luxembourg: they generally do not exist, because no complaint is filed at all, or a complaint does get filed and sanctions are handed out. But they are anemic in international comparison and in no relation with the extent of the fraud or misconduct committed.
3. Luxembourg is the big loser in these recent incidents, which are real scandals. First there was the loss of reputation for being singled out on the OECD grey list, and then there is the forever brewing Madoff scandal. As investors are feeling betrayed, Luxembourg loses its "friends". Compounded with bad news came a strong loss of tax revenues to which a rich budget was used. Luxembourg also spent several billion Euros on securing two local banks “too big to fail”. And what if all of this was not only due to the economic crisis, but to a general loss of attractiveness? In these times of ongoing negotiations for the formation of a Government coalition, one can only hope that the alarms are seen and heard by the future leaders. The rigors of the law, essential to good governance at the financial center, and adequate means of investigation and the capacity to render justice without delay should be at the top of the list of priorities. This would be an extraordinary achievement, to avoid Luxembourg being included on yet another list that will not fail to come: the list red with shame of the judicial havens. It is a bad omen that the European Commission filed already two complaints against Luxembourg in this year alone: one related to money laundering regulations, another again about tax laws.
Egide Thein
2009.06.23.
(1) Bloomberg article: http://www.bloomberg.com/apps/news?pid=20601087&sid=a8KUxW1cXdvU
(2) A satire of the case is developing: http://peckvillchen.blogspot.com
1. “The principle is very clear: the custodian bank has to indemnify investors,”
2. “An international arbitration will be a more professional and fast solution that is probably more satisfactory to all,” said Frieden, who may become Luxembourg’s finance minister after the June 7 elections. “I prefer an arbitration of two, three years than having 100 court cases decided in 10 years.”
I wholeheartedly agree. That is what I thought myself, but here it is confirmed, clearly and frankly by the Minister of the Treasury and Justice, and according to some, future Minister of Finance.
By subscribing to the minister’s opinion, I would also assert some personal expertise in these areas, and certainly also similar objectivity in my comments. They are based on my unique perspective of a former "insider," now fairly distant geographically from Luxembourg for the last twenty years, which makes me a neutral observer. At the same time, at this very moment, unfortunately, I am also a “consumer” of Justice in Luxembourg, which provides me with another unique expertise.
Both statements by the Minister implicitly are a diagnosis of TJH, tax and judicial haven.
The tax haven attracts capital, clean and unclean, and those attract all kinds of Madoffs. Madoff operations in the world can only work in specific ecosystems, where those favorable legal, regulatory and financial environments meet. At this intersection we find money searching for easy income, tax exemption, lax regulations, secrecy and indeed vulnerable investors. Fraud quickly takes on its own momentum with handlers and facilitators, who often will be locals and will be inadvertently or willfully blind.
The Luxembourg judicial haven reduces the risk of consequences if ever someone gets caught. There is no doubt that we are in a judicial haven, if the Minister of Justice says that it is best to resort to private arbitration, rather than the formal justice of his own country, because it will take 10 years to reach a conclusion. He does not exclude that justice could be called biased, which I don’t think it is so far. We know there are other criteria by which the OECD defines a judicial haven, but they are minor compared to such a candid statement.
What are the risks to the participants in the Luxembourg Madoff scenario? It depends on which actor is considered, and there are three categories: the investor, the fraudster and Luxembourg State.
1. The investor of course, loses all, his capital, his sleep and his quality of life. A lawsuit in his home jurisdiction is precarious, especially when it comes to "black money" hiding in the tax haven. The gangsters know that. Luxembourg remains the only way to obtain a remedy, but it took already more than six months for any Luxembourg authority to establish clear principles surrounding the Madoff case. The impressionistic blur created by the unfortunate intersection of the rules and regulations of the financial center and Luxembourg civil law does not allow for quick fixes that are essential in such disputes. But the minister said it himself: procedures can last 10 years. This is totally unacceptable, but he spoke the truth. I can personally attest to it by the following:
In 2004 I filed a civil lawsuit against two business associates, two well known characters in Luxembourg, for breach of contract. As there is a suspicion of abuse of corporate assets and fraudulent bankruptcy, a criminal complaint was filed and received by the Luxembourg Court. I was told that Luxembourg curators generally ignore evidence of fraud in bankruptcy, and almost never file criminal charges. Impunity is almost guaranteed! It is also true that courts lack the means that would be commensurate with the size of the financial center. This applies also to an inadequately understaffed Judicial Police, and certainly also the country’s “Financial Investigation Unit”, or FIU. One result is that in my case, justice has yet to be done, whereas we write 2009 already. This starkly confirms the minister's quote that it might take ten years to reach a verdict. Justice is delayed, and as the proverb says: "Justice delayed, is justice denied." (2)
2. The fraudster has a good chance to get away with his crime cheaply. Thus, Madoff could go on until the collapse of his infernal machine, which gave him more than 35 years of impunity. This is not really due to a deficiency of Luxembourg supervision. But let’s admit what stroke of brilliance it would have been, if Luxembourg had unmasked Madoff several years ago! Luxembourg operators, banks and professionals involved had certainly even a higher chance than regulators to uncover the fraud, if only they had considered further that the investment opportunity was too good to be true. And who knows, maybe Madoff has been unmasked, but then the fraud buster became an accomplice, well knowing that he had the same level and probability of impunity than Madoff. I learned from Luxembourg sources that are usually well informed, because information is not publicly available due to the notorious lack of transparency that in a recent case of a financial scandal the local "handler" in chief, who is prominently known, got away with a fine of € 1500 for his personal violations of the law. There is no cheaper lottery in the world, where you win a prize every time. Who says crime does not pay?
In my personal case, described above, the two defendants are conducting a public life without hindrance for more than 5 years already, a bit like Madoff did before his fall.
There is still something to be said about sanctions for fraudsters in Luxembourg: they generally do not exist, because no complaint is filed at all, or a complaint does get filed and sanctions are handed out. But they are anemic in international comparison and in no relation with the extent of the fraud or misconduct committed.
3. Luxembourg is the big loser in these recent incidents, which are real scandals. First there was the loss of reputation for being singled out on the OECD grey list, and then there is the forever brewing Madoff scandal. As investors are feeling betrayed, Luxembourg loses its "friends". Compounded with bad news came a strong loss of tax revenues to which a rich budget was used. Luxembourg also spent several billion Euros on securing two local banks “too big to fail”. And what if all of this was not only due to the economic crisis, but to a general loss of attractiveness? In these times of ongoing negotiations for the formation of a Government coalition, one can only hope that the alarms are seen and heard by the future leaders. The rigors of the law, essential to good governance at the financial center, and adequate means of investigation and the capacity to render justice without delay should be at the top of the list of priorities. This would be an extraordinary achievement, to avoid Luxembourg being included on yet another list that will not fail to come: the list red with shame of the judicial havens. It is a bad omen that the European Commission filed already two complaints against Luxembourg in this year alone: one related to money laundering regulations, another again about tax laws.
Egide Thein
2009.06.23.
(1) Bloomberg article: http://www.bloomberg.com/apps/news?pid=20601087&sid=a8KUxW1cXdvU
(2) A satire of the case is developing: http://peckvillchen.blogspot.com
Friday, July 3, 2009
MILITARY TIES BETWEEN MONGOLIA AND LUXEMBOURG TO BOOST
An unusual press article from Montsame Ulaanbaatar. Quietly, unbeknownst to anybody, Luxembourg has achieved the military encirclement of Russia. See for yourself (1):
Мэдээ Мэдээ » English news » Politics
MILITARY TIES BETWEEN MONGOLIA AND LUXEMBOURG TO BOOST
2009-06-30 18:03:09
Хэвлэх Найздаа илгээх
Ulaanbaatar, /MONTSAME/ Prime Minister S.Bayar hosted a meeting Tuesday with a visiting Chief of Luxembourg Army's Headquarters, General Gaston Reinig. Mr Bayar expressed his hope that this visit will play an important role in extending the bilateral relations and cooperation in defense sector enriching them with a new content. He expressed his satisfaction with active promotion of the cooperation in comparatively short term since the establishment of military relationship between the two countries in 2002. "A military contingent of Mongolia's Armed Forces performed a peacekeeping mission in Kosovo together with troops from Luxembourg under the NATO leadership. This is a significant measure for the military relations and cooperation between Mongolia and Luxembourg," he added. "I would like to announce that Mongolia's Government and the National Security Council supported Luxembourg's proposal on joint participation in stabilizing Afghanistan. The suggestion was made during my visit to Luxembourg," Mr Bayar said. Mongolia is interested in cooperating with Luxembourg' Army in renovating and re-organizing a Tavantolgoi-based peacekeeping training center of Mongolia's Armed Forces into Regional Training Center, exchanging international peacekeeping operation experiences, conducting joint military exercises, and in establishing relations between military units of the two countries. S.Batbayar 17.59
(1) http://www.montsame.mn/index.php?option=com_news&task=news_detail&tab=200906&ne=1535
Egide Thein
egidethein.blogspot.com
feierwon.blogspot.com
peckvillchen.blogspot.com
Мэдээ Мэдээ » English news » Politics
MILITARY TIES BETWEEN MONGOLIA AND LUXEMBOURG TO BOOST
2009-06-30 18:03:09
Хэвлэх Найздаа илгээх
Ulaanbaatar, /MONTSAME/ Prime Minister S.Bayar hosted a meeting Tuesday with a visiting Chief of Luxembourg Army's Headquarters, General Gaston Reinig. Mr Bayar expressed his hope that this visit will play an important role in extending the bilateral relations and cooperation in defense sector enriching them with a new content. He expressed his satisfaction with active promotion of the cooperation in comparatively short term since the establishment of military relationship between the two countries in 2002. "A military contingent of Mongolia's Armed Forces performed a peacekeeping mission in Kosovo together with troops from Luxembourg under the NATO leadership. This is a significant measure for the military relations and cooperation between Mongolia and Luxembourg," he added. "I would like to announce that Mongolia's Government and the National Security Council supported Luxembourg's proposal on joint participation in stabilizing Afghanistan. The suggestion was made during my visit to Luxembourg," Mr Bayar said. Mongolia is interested in cooperating with Luxembourg' Army in renovating and re-organizing a Tavantolgoi-based peacekeeping training center of Mongolia's Armed Forces into Regional Training Center, exchanging international peacekeeping operation experiences, conducting joint military exercises, and in establishing relations between military units of the two countries. S.Batbayar 17.59
(1) http://www.montsame.mn/index.php?option=com_news&task=news_detail&tab=200906&ne=1535
Egide Thein
egidethein.blogspot.com
feierwon.blogspot.com
peckvillchen.blogspot.com
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