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Money Talks from The Economist

Money talks: Luring financial firms to Luxembourg

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 26 July 2016

⏱️ 18 minutes

🧾️ Download transcript

Summary

Pierre Gramegna, Luxembourg's finance minister, talks to host Andrew Palmer about how his country aims to thrive post-Brexit, and how it intends to improve tax transparency in the wake of the LuxLeaks scandal. And in our final segment, Tamzin Booth, our business editor, discusses why Abenomics fails to live up to the hype, but is still not a failure

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Transcript

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0:00.0

They're not authors, but they help you shape your financial story.

0:04.0

They're not an airline, but they connect global businesses across nearly 160 local markets.

0:10.0

They're not interpreters that they listen to and understand their client's needs.

0:14.8

With global expertise and over two centuries of experience, Citi provides tools, insights and

0:20.8

guidance that helps clients thrive.

0:23.0

They're not just any bank, they are city.

0:26.0

Learn more at city.com slash we are city.

0:30.0

Hello I'm Andrew Palmer, Business Affairs Editor and this is Money Talks.

0:38.0

This week, could a tiny country like Luxembourg make large games from Brexit?

0:42.0

We don't come here to take business away from

0:45.4

London we come here to do business with London. And is Abenomics dead? Our

0:49.5

business editor says we should hold off on the eulogies. We have a very contrarian view of the achievements of albinomics.

0:56.0

We think it has achieved a great deal.

1:01.0

First though, the result of the referendum is clear.

1:05.0

However painful that process may be.

1:09.0

Considerable uncertainty about the economic outlook.

1:12.0

So uncertainty over the pace, breadth, and scale of these changes.

1:16.0

Banking, sales and trading, after Brexit, we cannot do it all here.

1:21.0

As the City of London still reels from last month's EU referendum

1:23.8

cities from Dublin to Frankfurt are eyeing a chance to take their share of the

1:28.3

post Brexit spoils. So too is Luxembourg, a small country of 500,000 people known both for its financial industry and its friendly tax regime.

1:37.0

Here with me to discuss both is Pierre Grameen, the finance minister for Luxembourg.

...

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