Switzerland objects to Obama campaign film slur: TAX HAVEN

Offshore anyone? Naples, Florida. Sunset. Photo ET

AFP reported that a video by the Obama campaign portrays  Switzerland as a tax haven, to the displeasure of the Swiss.

It also mentions : "In the clip, entitled "Romney Girl", the singing protagonist hails the Romney approach of "tax shelters everywhere", while a list of countries appear on screen showing Romney with bank accounts in Switzerland, Luxembourg, the Cayman Islands and Ireland."

Sounds like a list of politically appointed Ambassador posts.

Myanmar establishes diplomatic ties with Luxembourg

My Orchids. Morning in Myanmar. And Luxembourg. Photo ET

Myanmar establishes diplomatic ties with Luxembourg

No Bluff: Looser Wins !

A Flush of Orchids Phalaneopsis. Photo ET

A funny thing happened after we didn't win anything at the Olympics. A Luxembourg poker player, code-named "Looser01112" won the Wednesday tournament of Titanpoker, I suppose an online gambling outfit?

Imagine, sitting alone in front of a screen for 8 hours, still in pyjamas, smoking maybe, low self-esteem and calling yourself "loser", actually misspelled with double O's to make matters worse.

But, bravo for the win, mostly if you are a member of the Luxembourg Government trying to refill the Treasury. Or to prop up Cargolux or Luxair. But hey, don't lose it all now!

Luxembourg: Best per capita income

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  My Orchids. Phalaneopsis hybrid. The proliferation of wealth. 

  Photo ET

  
  We are the richest!

  
  

  Though some adjustments would apply, when it comes to personal income. About 150,000 people commute internationally. (BE, FR, DE). They are not counted in the "per capita" which makes quite some impact as resident population is only about 500,000. And an estimated 15% of the population lies below the poverty line. ( http://lnkd.in/_nNjhR )

Dexia may need recapitalizing -ECB's Coene

My Orchids, Phalaenopsis, lined up like Dexia guarantees. Photo ET

Reuters reported the following comments by ECB's Coene:

"In June, Belgium, France and Luxembourg agreed to increase their aid to Dexia, a lender to municipalities, by raising their guarantees to 55 billion euros ($67.70 billion) from 45 billion euros originally provided to cover Dexia's funding."

So let's throw some good money after bad. Oh, it's only guarantees. Then why worry? Why can't we go up to 90 billion euros directly? We can do 3%. Easily. Luxembourg that is.

QC ‘selling shares’ to buy Luxembourg mosque

My Orchids. Unusual purple Plalaenopsis. Photo ET

A First in Luxembourg. Though the Mosque has been in existence for a while, but as rented real estate only. Ownership will of course help for more flexible use of the property. 

QC ‘selling shares’ to buy Luxembourg mosque

No doubt that through Qatar Charities the goal will be obtained to raise the funds needed. This comes on the heels of several other recent links with Qatar such as Qatari participation in Cargolux, the takeover of two financial institutions,  BIL and KBL, and expected coperation with SES.

Downhill with Frank Schleck to meet the Disciplinary Board

Sometimes no news would be far better news.

My Orchids. Phalaenopsis. Photo ET

Frank Schleck will have to report to the Disciplinary Board of ALAD, the Luxembourg Anti-Doping Agency. Frank was tested positively on July 14th during the Tour de France 2012 for a specified substance according to the French anti-doping agency. That substance, Xipamide is a diuretic, often used to mask other performance enhancers. Frank Schleck, after a miserable season for both Schleck brothers and mostly all of the Leopard RTN team, didn't need yet another leg downhill in a desperate battle to reach the bottom and reemerge.

Hold your horses !

Frank Schleck's positive testing, in both the A and B samples, merely allows to conclude to an "abnormal" test, as Xipamide is not a doping substance. It means that there was smoke, but no one could find the fire. There might be sanctions though, but generally one may expect far lighter consequences than in the case of a fully demonstrated doping case.

In addition Frank Schleck denies any allegation of doping and has even filed a criminal complaint with French Police, which is in line with his statement that the substance could only have entered his body unbeknownst to him. A poisoning in fact, which would not be a doping case.

Somewhere downhill, there is a bottom. It is important to get there sooner than later and leave all this behind. There will be a new Start sometime.