France not impressed by Luxembourg’s bid to lead Eurogroup

Paris prefers the candidacy of Slovakia to that of Luxembourg, whose tax evasion record casts a shadow on its bid to lead the Eurogroup. EURACTIV France reports.

While the bids for the presidency of the Eurogroup multiply, ahead of a change in January 2018, the candidacy of Luxembourg’s Finance Minister Pierre Gramegna has failed to impress France.

Luxleaks, the Panama Papers and the Paradise Papers have all underlined Luxembourg’s significant enabling role in tax evasion by businesses and individuals alike.

If the European Commission chaired by a Luxembourger, Jean-Claude Juncker, has made regulatory proposals to limit the options of tax-dodgers, including the automatic exchange of information or country-by-country reporting, there is still much to be done.

“The urgency today is to put in place serious tools to fight against tax evasion. How could a Luxembourg finance minister contribute?” a high-level French source said.

Giving Luxembourg another top EU position, while the country

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