The French car-service company Heetch recently displayed an advertising campaign on the streets of Paris (see photo), which proudly affirmed its presence in many French cities but not in Luxembourg—a clear allusion to the tax headquarters of some of its competitors. The fact that ‘paying taxes in France’ has become a commercial argument shows that the issue of corporate avoidance is rising up the public agenda in many countries.
Yet the G20 process on taxing digital firms and introducing a global minimum tax to limit tax competition, led by the Organisation for Economic Co-operation and Development, failed to reach consensus in 2020, mostly because of determination by the United States to protect its digital giants. The European Commission has made clear that, were the G20 to fail to deliver a global solution by mid-2021, it will act. But the EU is stuck between a rock—the US position will likely not change with the new administration—and a hard place: its own tax havens.
Read more at:
EU taxation of multinationals—bypassing the unanimity blockage – Tommaso Faccio and Francesco Saraceno
Showing posts with label Luxembourg. Show all posts
Showing posts with label Luxembourg. Show all posts
2/6/21
1/13/21
EU-US Relations: Pompeo scraps Europe trip after EU leader calls Trump 'political pyromaniac - by Julian Borger
The US secretary of state, Mike Pompeo, has cancelled a trip to Europe at the last minute after some European politicians and officials were publicly critical of Donald Trump’s role in last week’s storming of the Capitol.
The official reason for the cancellation of the trip, originally to Brussels and Luxembourg, was the need to coordinate with a transition team from the incoming Biden administration, but it comes after the unprecedented attack on American democracy that stunned many world leaders and US allies.
The Luxembourg leg of the trip was called off on Monday after its foreign minister, Jean Asselborn, called Trump “criminal” for inciting the attack.
Asselborn described the outgoing US president to RTL radio as a “political pyromaniac who must be brought before a court”.
Reuters and Fox News both quoted diplomatic sources as saying it was Luxembourg that had called off the meeting, a devastating snub from a tiny country for a secretary of state who continually claims to have restored “swagger” to the state department.
Read more at: + Pompeo scraps Europe trip after EU leader calls Trump 'political pyromaniac' | US foreign policy | The Guardian
The official reason for the cancellation of the trip, originally to Brussels and Luxembourg, was the need to coordinate with a transition team from the incoming Biden administration, but it comes after the unprecedented attack on American democracy that stunned many world leaders and US allies.
The Luxembourg leg of the trip was called off on Monday after its foreign minister, Jean Asselborn, called Trump “criminal” for inciting the attack.
Asselborn described the outgoing US president to RTL radio as a “political pyromaniac who must be brought before a court”.
Reuters and Fox News both quoted diplomatic sources as saying it was Luxembourg that had called off the meeting, a devastating snub from a tiny country for a secretary of state who continually claims to have restored “swagger” to the state department.
Read more at: + Pompeo scraps Europe trip after EU leader calls Trump 'political pyromaniac' | US foreign policy | The Guardian
1/4/21
Global Happiness list: Netherlands one of the top 10 happiest countries globally in 2020 ranking 6th - Finland No 1 - US 18 th.- Turkey 79 th. - lowest: Afghanistan 110 th.
The World Happiness Report ranks 156 countries around the world according to how happy their citizens perceive themselves to be. 2020 marks the eighth edition of the report and has the theme “environments for happiness”. It examines data from 2017, 2018, and 2019 to put together a conclusive ranking.
The ranking is compiled using data from the Gallup World Poll, in which respondents are asked to evaluate the happiness of their own lives on a scale of one to 10. Using the survey results, the ranking also shows the estimated extent to which six different factors impact happiness:
Gross Domestic Product per capita, Life expectancy, Social support, Freedom, Corruption,
According to the 2020 report, the 10 happiest countries in the world are: 1) Finland 2) Denmark 3) Switzerland 4) Iceland 5) Norway 6) The Netherlands 7) Sweden 8) New Zealand 9) Austria 10 Luxembourg
Read more at: EU-Digest
The ranking is compiled using data from the Gallup World Poll, in which respondents are asked to evaluate the happiness of their own lives on a scale of one to 10. Using the survey results, the ranking also shows the estimated extent to which six different factors impact happiness:
Gross Domestic Product per capita, Life expectancy, Social support, Freedom, Corruption,
According to the 2020 report, the 10 happiest countries in the world are: 1) Finland 2) Denmark 3) Switzerland 4) Iceland 5) Norway 6) The Netherlands 7) Sweden 8) New Zealand 9) Austria 10 Luxembourg
Read more at: EU-Digest
1/4/17
Netherlands, Luxembourg, and Belgium begin joint air policing - by Nicholas Fiorenza
Two Belgian Lockheed Martin F-16 fighter aircraft began the joint air policing of the airspace of Belgium, the Netherlands, and Luxembourg (Benelux) on 1 January.
The Belgian fighters will be on 15-minute quick reaction alert (QRA) for the first four months of 2017, after which two Royal Netherlands Air Force (RNLAF) F-16s will take over.
The arrangement was agreed by the Benelux in March 2015. Until the end of 2016, two Belgian F-16s were on QRA for Belgium and Luxembourg and two Dutch F-16s for the Netherlands.
Belgian Defence Minister Steven Vandeput described the arrangement as "ground breaking". Similarly, his Dutch counterpart, Jeanine Hennis-Plasschaert, called it a "milestone", adding, "The pilots and fighter aircraft we thereby free up can be deployed elsewhere, for example in the UN, EU or whatever other context." The agreement will also allow more flight training, Vandeput pointed out.
Vandeput said no other countries trust each other to deal with air threats within each other's' borders. The authorities of the country over which an air threat emerges can now give instructions to the fighters on QRA, whether Belgian or Dutch. The Belgian defence minister would do so through the control and reporting centre in Glons, Belgium, while the Dutch minister for security and justice would do the same through the air operations control station in Nieuw Milligen, the Netherlands. The defence minister of Luxembourg is the responsible authority of the Grand Duchy.
The technical agreement on Benelux air policing was signed on 21 December 2016 in Rotterdam, the Netherlands, by the commander of the Belgian Air Component, Major General Frederik Vansina, his RNLAF counterpart, Lieutenant General Dennis Luyt, and Luxembourg's ambassador to the Netherlands, Pierre-Louis Lorenz.The two Belgian F-16s currently on QRA are bas
Read more: Netherlands and Belgium begin joint air policing | IHS Jane's 360
The Belgian fighters will be on 15-minute quick reaction alert (QRA) for the first four months of 2017, after which two Royal Netherlands Air Force (RNLAF) F-16s will take over.
The arrangement was agreed by the Benelux in March 2015. Until the end of 2016, two Belgian F-16s were on QRA for Belgium and Luxembourg and two Dutch F-16s for the Netherlands.
Belgian Defence Minister Steven Vandeput described the arrangement as "ground breaking". Similarly, his Dutch counterpart, Jeanine Hennis-Plasschaert, called it a "milestone", adding, "The pilots and fighter aircraft we thereby free up can be deployed elsewhere, for example in the UN, EU or whatever other context." The agreement will also allow more flight training, Vandeput pointed out.
Vandeput said no other countries trust each other to deal with air threats within each other's' borders. The authorities of the country over which an air threat emerges can now give instructions to the fighters on QRA, whether Belgian or Dutch. The Belgian defence minister would do so through the control and reporting centre in Glons, Belgium, while the Dutch minister for security and justice would do the same through the air operations control station in Nieuw Milligen, the Netherlands. The defence minister of Luxembourg is the responsible authority of the Grand Duchy.
The technical agreement on Benelux air policing was signed on 21 December 2016 in Rotterdam, the Netherlands, by the commander of the Belgian Air Component, Major General Frederik Vansina, his RNLAF counterpart, Lieutenant General Dennis Luyt, and Luxembourg's ambassador to the Netherlands, Pierre-Louis Lorenz.The two Belgian F-16s currently on QRA are bas
Read more: Netherlands and Belgium begin joint air policing | IHS Jane's 360
1/30/16
Belgium - Nuclear P)ower Plants: Belgium's ageing nuclear plants worry neighbours
As the two cooling
towers at Belgium's Doel nuclear power belch thick white steam into a
wintry sky, people over the border in the Dutch town of Nieuw-Namen are
on ed
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
As the two cooling
towers at Belgium's Doel nuclear power belch thick white steam into a
wintry sky, people over the border in the Dutch town of Nieuw-Namen are
on edge.
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
They are part of a
groundswell of concern in the Netherlands, Germany and Luxembourg over
the safety of Belgium's seven ageing reactors at Doel and at Tihange,
further to the south and east.
"I'm happy Holland, Germany and Luxembourg are reacting because they (officials) don't listen to you and me," butcher Filip van Vlierberge told AFP at his shop in Nieuw-Namen, where people can see the Doel plant.
Benedicte, one of his customers, nodded in agreement.
Van Vlierberge said he was particularly uneasy with the Belgian government's decision in December to extend the lives of 40-year-old reactors Doel 1 and Doel 2 until 2025 under a deal to preserve jobs and invest in the transition to cleaner energy.
"I'm concerned they are too old," he said.
Belgium's creaking nuclear plants have been causing safety concerns with its neighbours for some time now after a series of problems ranging from leaks to cracks and an unsolved sabotage incident.
Luxembourg's sustainable development minister Camille Gira is due in Belgium on Monday to raise his concerns.
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
As the two cooling towers at Belgium's Doel nuclear power belch thick white steam into a wintry sky, people over the border in the Dutch town of Nieuw-Namen are on edge."I'm happy Holland, Germany and Luxembourg are reacting because they (officials) don't listen to you and me," butcher Filip van Vlierberge told AFP at his shop in Nieuw-Namen, where people can see the Doel plant.
Benedicte, one of his customers, nodded in agreement.
Van Vlierberge said he was particularly uneasy with the Belgian government's decision in December to extend the lives of 40-year-old reactors Doel 1 and Doel 2 until 2025 under a deal to preserve jobs and invest in the transition to cleaner energy.
"I'm concerned they are too old," he said.
Belgium's creaking nuclear plants have been causing safety concerns with its neighbours for some time now after a series of problems ranging from leaks to cracks and an unsolved sabotage incident.
Luxembourg's sustainable development minister Camille Gira is due in Belgium on Monday to raise his concerns.
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
They are part of a groundswell of concern in the Netherlands, Germany and Luxembourg over the safety of Belgium's seven ageing reactors at Doel and at Tihange, further to the south and east.
"I'm happy Holland, Germany and Luxembourg are reacting because they (officials) don't listen to you and me," butcher Filip van Vlierberge told AFP at his shop in Nieuw-Namen, where people can see the Doel plant.
Benedicte, one of his customers, nodded in agreement.
Van Vlierberge said he was particularly uneasy with the Belgian government's decision in December to extend the lives of 40-year-old reactors Doel 1 and Doel 2 until 2025 under a deal to preserve jobs and invest in the transition to cleaner energy.
"I'm concerned they are too old," he said.
Belgium's creaking nuclear plants have been causing safety concerns with its neighbours for some time now after a series of problems ranging from leaks to cracks and an unsolved sabotage incident.
Luxembourg's sustainable development minister Camille Gira is due in Belgium on Monday to raise his concerns.
As the two cooling
towers at Belgium's Doel nuclear power belch thick white steam into a
wintry sky, people over the border in the Dutch town of Nieuw-Namen are
on ed
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
Read more at: http://phys.org/news/2016-01-belgium-ageing-nuclear-neighbours.html#jCp
Read more: Belgium's ageing nuclear plants worry neighbours
8/1/15
Sweetheart Tax Deals: Luxleaks committee demands overhaul of EU tax rules - by Benjamin Fox
Governments that offer multi-national firms sweetheart tax deals
should not be allowed to benefit if the European Union orders them to
claw back the aid, according to a new report by the European
Parliament’s special committee on tax rulings.
Instead, the proceeds should be “returned to the member states which have suffered from an erosion of their tax bases or to the EU budget, and not to the member state which granted the illegal tax-related aid, as is currently the case,” the report contends.
The European Commission is still investigating whether so-called ‘sweetheart’ tax agreements in Ireland, the Netherlands and Luxembourg, involving companies such a Apple, Starbucks and Fiat, constitute illegal state aid. The probe could lead to hundreds of millions of euros in new taxes being paid to the governments in question, despite the fact that they were responsible for offering special tax treatment.
The cross-party inquiry committee was set up in February in the wake of the “LuxLeaks” scandal, in which reporters disclosed the extent of tax-avoidance structures in Luxembourg allowing companies to benefit from significant reductions to their tax rate on income earned from intellectual property.
Also included in the 40-page draft report by Michael Theurer, a German liberal, and Elisa Ferreira, the Socialist group spokesperson on economic affairs, are recommendations that firms which refused to assist the committee investigation should be banned from the EU’s Transparency Register allowing them to access the EU institutions.
The MEPs also call for comprehensive exchange of tax information between European countries alongside a common consolidated corporate tax base.
Read more: Luxleaks committee demands overhaul of EU tax rules
Instead, the proceeds should be “returned to the member states which have suffered from an erosion of their tax bases or to the EU budget, and not to the member state which granted the illegal tax-related aid, as is currently the case,” the report contends.
The European Commission is still investigating whether so-called ‘sweetheart’ tax agreements in Ireland, the Netherlands and Luxembourg, involving companies such a Apple, Starbucks and Fiat, constitute illegal state aid. The probe could lead to hundreds of millions of euros in new taxes being paid to the governments in question, despite the fact that they were responsible for offering special tax treatment.
The cross-party inquiry committee was set up in February in the wake of the “LuxLeaks” scandal, in which reporters disclosed the extent of tax-avoidance structures in Luxembourg allowing companies to benefit from significant reductions to their tax rate on income earned from intellectual property.
Also included in the 40-page draft report by Michael Theurer, a German liberal, and Elisa Ferreira, the Socialist group spokesperson on economic affairs, are recommendations that firms which refused to assist the committee investigation should be banned from the EU’s Transparency Register allowing them to access the EU institutions.
The MEPs also call for comprehensive exchange of tax information between European countries alongside a common consolidated corporate tax base.
Read more: Luxleaks committee demands overhaul of EU tax rules
11/25/14
EU: President Juncker on defensive in censure motion over Luxembourg tax schemes - by Ian Traynor and Simon Bowers
Jean-Claude Juncker’s fitness to head the EU’s executive for the next
five years came under lacerating attack in the European parliament on
Monday evening, with British, French and Italian far-right and populist
leaders denouncing his record in facilitating massive corporate tax
avoidance when governing Luxembourg for almost two decades.
Juncker became president of the European commission at the beginning of the month only to disappear for a week after disclosures in the Guardian and other newspapers on Luxembourg’s record in enabling multinationals to minimise their tax exposure while earning billions in profit elsewhere in the EU.
The entire new European commission was obliged to attend last night’s session in Strasbourg for the unusual censure motion, at which Juncker sought to defend himself by declaring he was “no friend of big capital”.
“Mr Juncker, you are the worst image of this Europe. If you had a crumb of dignity you would resign,” said Marco Zanni, an MEP from Beppe Grillo’s Five Star movement, which organised the motion, backed by a tenth of the parliament including Ukip and France’s Front National.
Juncker said the “problem is not peculiarly Luxembourg, it is Europe” and blamed the scandal of multinational tax avoidance on the reluctance of national governments to harmonise corporate tax rates.
The details of Luxembourg’s record as a centre for tax avoidance came in leaks of more than 28,000 documents that revealed how the authorities, headed by Juncker, reached agreements with more than 300 global companies allowing them to minimise their liabilities.
Note EU-Digest: also the Netherlands is a major player when it comes to providing a safe haven for corporate tax avoidance.
Read more: Juncker on defensive in censure motion over Luxembourg tax schemes | World news | The Guardian
Juncker became president of the European commission at the beginning of the month only to disappear for a week after disclosures in the Guardian and other newspapers on Luxembourg’s record in enabling multinationals to minimise their tax exposure while earning billions in profit elsewhere in the EU.
The entire new European commission was obliged to attend last night’s session in Strasbourg for the unusual censure motion, at which Juncker sought to defend himself by declaring he was “no friend of big capital”.
“Mr Juncker, you are the worst image of this Europe. If you had a crumb of dignity you would resign,” said Marco Zanni, an MEP from Beppe Grillo’s Five Star movement, which organised the motion, backed by a tenth of the parliament including Ukip and France’s Front National.
Juncker said the “problem is not peculiarly Luxembourg, it is Europe” and blamed the scandal of multinational tax avoidance on the reluctance of national governments to harmonise corporate tax rates.
The details of Luxembourg’s record as a centre for tax avoidance came in leaks of more than 28,000 documents that revealed how the authorities, headed by Juncker, reached agreements with more than 300 global companies allowing them to minimise their liabilities.
Note EU-Digest: also the Netherlands is a major player when it comes to providing a safe haven for corporate tax avoidance.
Read more: Juncker on defensive in censure motion over Luxembourg tax schemes | World news | The Guardian
10/20/12
Luxembourg's Royal Wedding Eliminates Europe's Last Bachelor Heir
Prince Guillaume, His Royal Highness, hereditary Grand Duke of Luxembourg, Hereditary Prince of Nassau, Prince of Bourbon of Parme and the last remaining bachelor heir to a European throne is officially off the market.
It only took two ceremonies over two days for Guillaume to tie the knot with Countess St̩phanie de Lannoy of Belgium Рthe first a light-hearted, low-key civil event performed by an openly gay mayor, the second a pomp-and-circumstance-laden affair adhering to centuries-old traditions, attended by royalty from around the world and performed by a Catholic Archbishop.
Weddings can be simple or they can be complicated. Sometimes, very complicated and very expensive. Think of the countless movies, books, plays, musicals, internet videos created around the joys and misfortunes of these events, from big, fat Greek weddings to crashing weddings and bridesmaids. Or of the parents bankrupting themselves to give their “princesses” the wedding of theirs (or their mamas’) dreams.
Yes, OK, it would be labeled “low key” when compared with the global event and national celebration that was the wedding last year of Britain’s Prince William and Kate Middleton. Still, the union of Guillaume and Stéphanie attracted a glittering, global list of royals and a charming, if sober, national celebration among the 500,000+ citizens of the world’s only grand duchy.
Read more: Luxembourg's Royal Wedding Eliminates Europe's Last Bachelor Heir - Forbes
It only took two ceremonies over two days for Guillaume to tie the knot with Countess St̩phanie de Lannoy of Belgium Рthe first a light-hearted, low-key civil event performed by an openly gay mayor, the second a pomp-and-circumstance-laden affair adhering to centuries-old traditions, attended by royalty from around the world and performed by a Catholic Archbishop.
Weddings can be simple or they can be complicated. Sometimes, very complicated and very expensive. Think of the countless movies, books, plays, musicals, internet videos created around the joys and misfortunes of these events, from big, fat Greek weddings to crashing weddings and bridesmaids. Or of the parents bankrupting themselves to give their “princesses” the wedding of theirs (or their mamas’) dreams.
Yes, OK, it would be labeled “low key” when compared with the global event and national celebration that was the wedding last year of Britain’s Prince William and Kate Middleton. Still, the union of Guillaume and Stéphanie attracted a glittering, global list of royals and a charming, if sober, national celebration among the 500,000+ citizens of the world’s only grand duchy.
Read more: Luxembourg's Royal Wedding Eliminates Europe's Last Bachelor Heir - Forbes
9/23/12
Future of Europe Group plans closer EU integration
 |
| Closer integration |
The group, which does not include the UK, says the eurozone crisis has caused a "crisis of confidence" in the EU.
It says the European Commission - the EU's executive arm - must be stronger and its head could be directly elected.
The Commission has already acquired more powers of oversight in the crisis, scrutinising national budgets to ensure compliance with EU targets. The new controls are considered necessary to prevent any reckless accumulation of debt in future.
Besides Mr Westerwelle, the Warsaw meeting brought together the foreign ministers of Austria, Belgium, Denmark, France, Italy, Luxembourg, the Netherlands, Poland, Portugal and Spain.
Read more: BBC News - Future of Europe Group plans closer EU integration
7/17/12
Euro Group President Juncker Discusses Path Forward in Euro Rescue
In a SPIEGEL interview, Euro Group president and Luxembourg Prime Minister Jean-Claude Juncker, 57, discusses the dispute between Germany and Italy at the recent EU summit, why he believes Merkel is wrong about euro bonds and his desire to have an elected president of the European Union.
Read more: Euro Group President Juncker Discusses Path Forward in Euro Rescue - SPIEGEL ONLINE
Read more: Euro Group President Juncker Discusses Path Forward in Euro Rescue - SPIEGEL ONLINE
7/11/12
Luxembourg's Juncker to remain as head of Eurogroup for another 6 months
It was decided Monday night that Juncker will now step down by 'early next year'. "The mandate is for two and a half years but he will only serve for part of that," an EU source said.
Juncker, who has held the post since 2005, was due to step down in exactly one week, on July 17.
Finding a successor has been tricky, with the most likely new candidate, German Finance Minister Wolfgang Schaeuble, running into French opposition.
Juncker favoured handing over the post but agreed under French pressure to remain another six months on condition that the head of the Luxembourg central bank, Yves Mersch, should take a vacant board seat at the European Central Bank.
Read more: Luxembourg's Juncker to remain as head of Eurogroup - RTÉ News
Juncker, who has held the post since 2005, was due to step down in exactly one week, on July 17.
Finding a successor has been tricky, with the most likely new candidate, German Finance Minister Wolfgang Schaeuble, running into French opposition.
Juncker favoured handing over the post but agreed under French pressure to remain another six months on condition that the head of the Luxembourg central bank, Yves Mersch, should take a vacant board seat at the European Central Bank.
Read more: Luxembourg's Juncker to remain as head of Eurogroup - RTÉ News
5/30/11
Health: EU Reaction Mixed as E. coli Outbreak Spreads - by Gretchen Goetz
The E. coli outbreak in northern Germany that has taken the lives of 10 people -- and captured the attention of health officials around the world -- does not appear to be causing concern everywhere in Europe.
Cucumbers were still a regular part of the fresh vegetable selection on French food stands this weekend, despite an announcement Saturday from the ministries of economy, health and agriculture that 3 cases of E. coli infection are being investigated in France.
These investigations come as cucumbers and other fresh produce have been recalled in Germany and elsewhere in Europe following an epidemic of E. coli illnesses. The European Union has warned that contaminated vegetables-- thought to originate on two farms in Spain and possibly from the Netherlands or Denmark -- may have been sent to other European countries, including the Czech Republic, Denmark, Austria, Luxembourg and Hungary.
Note EU-Digest: wash your vegetables and fruit well and peel your cucumbers.
For more: EU Reaction Mixed as E. coli Outbreak Spreads
Cucumbers were still a regular part of the fresh vegetable selection on French food stands this weekend, despite an announcement Saturday from the ministries of economy, health and agriculture that 3 cases of E. coli infection are being investigated in France.
Note EU-Digest: wash your vegetables and fruit well and peel your cucumbers.
For more: EU Reaction Mixed as E. coli Outbreak Spreads
9/17/10
Report lists Ireland as second richest EU country after Luxembourg
Ireland remained the second richest country in the 27-member EU last year, according to the Central Statistics Office’s annual compendium of statistics, entitled Measuring Ireland’s Progress 2009.
Gross domestic product (GDP) per head, when adjusted for differences in the cost of living in different countries, was 31 per cent above the EU average. Although sharply down from its peak in 2007, when it stood at 48 per cent above the average, Ireland remained fractionally above the Netherlands, the country with the third highest standard of living. Luxembourg is by far the richest country among the 27, with per capita average GDP 168 per cent above the average, while Romania is the poorest at less than half the average.the second richest country in the 27-member EU last year, according to the Central Statistics Office’s annual compendium of statistics, entitled Measuring Ireland’s Progress 2009.
Gross domestic product (GDP) per head, when adjusted for differences in the cost of living in different countries, was 31 per cent above the EU average. Although sharply down from its peak in 2007, when it stood at 48 per cent above the average, Ireland remained fractionally above the Netherlands, the country with the third highest standard of living.
Luxembourg is by far the richest country among the 27, with per capita average GDP 168 per cent above the average, while Romania is the poorest at less than half the average.
For more: Report lists Ireland as second richest EU country - The Irish Times - Fri, Sep 17, 2010
Gross domestic product (GDP) per head, when adjusted for differences in the cost of living in different countries, was 31 per cent above the EU average. Although sharply down from its peak in 2007, when it stood at 48 per cent above the average, Ireland remained fractionally above the Netherlands, the country with the third highest standard of living. Luxembourg is by far the richest country among the 27, with per capita average GDP 168 per cent above the average, while Romania is the poorest at less than half the average.the second richest country in the 27-member EU last year, according to the Central Statistics Office’s annual compendium of statistics, entitled Measuring Ireland’s Progress 2009.
Gross domestic product (GDP) per head, when adjusted for differences in the cost of living in different countries, was 31 per cent above the EU average. Although sharply down from its peak in 2007, when it stood at 48 per cent above the average, Ireland remained fractionally above the Netherlands, the country with the third highest standard of living.
Luxembourg is by far the richest country among the 27, with per capita average GDP 168 per cent above the average, while Romania is the poorest at less than half the average.
For more: Report lists Ireland as second richest EU country - The Irish Times - Fri, Sep 17, 2010
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