Luxembourg experienced uneven economic growth in the aftermath of the global economic crisis that began in late Likewise, changes to the way EU members collect taxes from e-commerce has cut Luxembourg's tax revenues, requiring the government to raise additional levies and to reduce some direct social benefits.
Luxembourg is a trilingual country; FrenchGermanand Luxembourgish are official languages. The unemployment rate 5. Luxembourg lies on the cultural divide between Romance Europe and Germanic Europe, borrowing customs from each of the distinct traditions.
It is largely made up of rolling hills and forests. The country continues to enjoy an extraordinarily high standard of living - GDP per capita ranks among the highest in the world and is the highest in the euro zone.
Most banks are foreign owned and have extensive foreign dealings. Generations of British listeners grew up with Radio Luxembourg, which beamed pop music programmes into the UK.
The head of state's constitutional role is largely ceremonial, and in parliament further restricted it by rescinding the monarch's right to veto legislation. The vote was called after Jean-Claude Juncker of the Christian Social Party, who had been prime minister sincelost his majority in parliament when the Socialists quit his coalition in July over a phone-tapping scandal.
Luxembourg has one of the highest current account surpluses as a share of GDP in the euro zone, and it maintains a healthy budgetary position and the lowest public debt level in the region. Full independence was attained in He later underwent officer training at Britain's Sandhurst Academy.
Located at the heart of Europe, Luxembourg has established a reputation as a favoured location for a wide range of international companies from a variety of sectors with diverse business models.