Pravda (Truth) had a pretty startling headline. In particular for the Russian money that just escaped Cyprus and went to Luxembourg. However going down in flames?
Unfortunately the article's background information is somewhat outdated for today. Which makes it somewhat funny to read for insiders.
As for the Luxembourg financial center, there are several adjustments to make. They are mostly in the area of the "tax haven", as Luxembourg has finally opted for automatic reporting within the EU (and the US). Outside these jurisdictions, it remains the little mother of all tax havens for our many Russian friends.
Financial paradise in Luxembourg may go down in flames - English pravda.ru
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