When Juncker does a Krecké, Bloomberg is reporting.

SchaeubleCondemns Discord ’Nonsense’ Following Euro Spat

But of course, I have to say even more. How often do we catch political personnel blabbering? Including Maria Fekter AND Jean-Claude Juncker. I have heard from him: premature comments, one thing and its contrary, even a defense of lying to the public. But I'm never really annoyed. I think it is quite entertaining.

Frankly, if I had been the designated spokesperson at that Copenhagen meeting, I would have been annoyed too by blabbering Maria. But not to the point of ruining Maria Theresia's Dirndl and annoying everyone else who potentially had an interest to listen to Mr Juncker. Those are the journalists, whose mission is to report from any sources they can get. They traveled to Copenhagen to attend the press conference. If I were them, I would next time organize the venue for the press conference and invite anyone of the Finmins who wants to spill the news. I bet, many would show up.

Those interested are also the markets, that want to gauge Europe's chances to revive that monument of historic mistake that is the Euro, by preventing other PIIGS to go Greek.  But the markets stayed unemotional while witnessing the biggest news coming out of Copenhagen: Mister Euro was annoyed. The markets didn't budge. How annoying!  Actually to me that is an interesting climax for Mr. Euro's credibility in the markets. Here are my historic observations:

At first, several years ago, no one would listen to Mr. Euro, because no one knew who he was.

Then people and markets  got acquainted with that newly found Euro voice appointed by his peers, and markets tried to react to his every utterance.

After too many blabbers, the markets disregarded.

Then they advised, that maybe the blabbering was more or less reporting insider knowledge from secret talks by Merkozy, who by definition would not call a press conference about secret talks. So markets listened again.

Yesterday we are back to "So what!" However, the markets have discovered the girl in the Dirndl: http://www.bloomberg.com/news/2012-03-30/europe-to-cap-rescue-lending-at-800-billion-euros-fekter.html

Let me prescribe him some anger management, trying to stay calm at home and fix Luxembourg's problems. After Mr. Krecké, Luxembourg's former Ecomin who recently left the Grand Duke stranded in the midst of  a State visit in Vietnam, this is the second incidence of heroic chivalry demonstrated by a member of the Luxembourg government in 4 months. Extrapolating, we are expecting 4 more before the year is over. The Press can't wait!

I hear that finally the homework in Copenhagen has not been completed. Yves Mersch is still strolling on the ECB waiting lists.

HuffPost: A Review Of James Hormel's "Fit To Serve"

Oh no! There go another two square miles!


The Huffington Post reviewed former US Ambassador James Hormel's Memoirs: Fit To Serve.


Quote; "From the summer of 1999 to the end of the Clinton Administration in 2000, James Catherwood Hormel was America's ambassador to Luxembourg, a tiny duchy of 997 square miles wedged between France, Belgium, and Germany."


We must protest. After France, Germany and Belgium, the Huffington Post amputates Luxembourg by two square miles. It is 999, (nothing to do with Mr Cain). Imperialism born again. In retaliation, we are going to amputate the Huff by two letters: the Hufington Pot.


The F and the S will only be restored after publication of a duly corrected article in the Hufington Pot, at the very same spot as the original . And by the way, that "tiny duchy" is a Grand Duchy. Take that Mr Been.

Luxembourg Pledges to Liberia’s Airport Security

Read this quote in the Daily Observer, Monrovia: 


"The Deputy Prime Minister of the Duchy of Luxembourg, Jean Asselborn, has pledged his country’s commitment to helping with the training of Liberian airport security personnel."


In fact Luxembourg is buying votes in Monrovia and Conakry for a silly ambition to get elected member of the UN Security Council. As if it mattered to anyone else as to a couple of zealous diplomats.


Here is the quid pro quo:


"Diplomatic sources told our reporter on Capitol Hill Tuesday that the Duchy of Luxembourg is seeking support from African countries to back its bid for a position on the UN Security Council."


Sad and embarrassing for a country that used to follow principled policies. But hey, we just borrowed Euros 1 billion. We can buy all the votes we need!


World! Vote for Australia! 

When Luxembourg imported manufacturing jobs, 50 years ago.

                   
             An old souvenir from the New York Times, 1959!

On October 29, 1958, Mr. Joe E. Gurley, a U.S. citizen residing in Luxembourg, sent a letter to the Luxembourg Government in which he urged the Minister of the Economy to consider a new economic policy. He proposed creating a task force, which he called "Board of Industrial Development" or "BID" with the goal of attracting U.S. investment and industrial corporations to Luxembourg. His argument was that a diversification of industrial activities in Luxembourg was probably desirable, even necessary, and that the U.S. industry, in the year 1958, swept into the emerging Common Market. Joe Gurley, who possessed the art of communication, brought up the argument that there was competition between the Benelux countries to bring U.S. investors into Europe. The score in this race was at that time: Netherlands 87, Belgium 38, Luxembourg 0. Read more: ..

Luxemporn under attack.

The Daily Caller reported:


‘Vigorous’ Santorum crackdown may catch Internet pornviewers with pants down

Tuesday'snews about hackers hitting the Luxembourg based porn site Digital Playground were surprising, funny, and target rich for word-play, as 72,000 members got exposed and became the butt of jokes. The mother ship Manwin elected to close down the site temporarily.

It was also an interesting documentation of how Luxembourg has become a digital haven, place of business for digital commerce (Microsoft, Amazon, Apple, Ebay and ...others like  Digital Playground), thanks to its EU membership and hard tax and VAT realities.

Here we are, two days later and Luxembourg is under "Viagorous" Attack from Rick Santorum, Presidential candidate in the US. Not yet directly, but in principle.

After  saying bad things about the Luxembourg financial center with QI and Fatca, after fining Cargolux for just being nice with its competition, we now face a new US initiative: the erection of an International Morality Police cracking down on Pornolux! Take cover!

ECB Mersch Warns Risks Remain

ECB Mersch Warns Risks Remain

Indeed a prudent thing to say and to act consequently. But that's not a lot of fun. Drunken sailors won't listen.

Luxembourg: Porn without Protection.

This summary is not available. Please click here to view the post.

Luxembourg FinMin Friedman: Sees ‘problem’ for Spain deficit to be below 3% in 2013 – Bloomberg

How frustrating! There you go, jumping through hoops to get on TV like your boss and his sidekick, and after two dozen appearances, they still call you Friedman!

But Friedman or not, the FinMin's quote is very plausible.

Luxembourg eyes vast market in Turkey and beyond, Ambassador Conzemius says

Luxembourg eyes vast market in Turkey and beyond, Ambassador Conzemius says

Luxembourg - Turkish relations and EU membership. Ambasador Conzemius' exhaustive summary of the often delicate issues.