Pierre Werner et l’Europe : pensée, action, enseignements – Pierre Werner and Europe: His Approach, Action and Legacy
Edited By Elena Danescu and Susana Muñoz
The centenary of the birth of Pierre Werner (1913–2013) offered a timely opportunity to reflect on the personality and achievements of this politician from Luxembourg who left his mark on the future of his country and on the European integration process. On 27 and 28 November 2013, some 30 renowned experts and researchers including historians, economists, legal experts and political scientists, together with major players in economic and monetary affairs, assembled in Luxembourg for a conference during which they analysed Pierre Werner’s European vision and offered an international perspective on the relevance of his approach in light of the challenges facing us in the 21
Financial Services in a Changing World
Luxembourg Finance Minister (2009-2013)
Honorary Prime Minister, ladies and gentlemen, it is a great pleasure to see you all here; some of us were present yesterday at the round table in honour of Pierre Werner, and I think it is worthwhile to reflect again on the many facets of Pierre Werner’s activity in this country.
Werner was not only a distinguished Prime Minister, but in his capacity as Finance Minister he was a very strong supporter of the development of Luxembourg as a financial services centre. He figures prominently among those who were instrumental in ensuring that this country changed from being an industrial country based on steel to a service economy based on financial services. Today, as Minister for Finance a number of years later, I have been considering how much this financial services centre has changed since that time, and is still changing every day. It’s changing every day because the world has completely changed during the past few years, and in particular since 2008. And I would like to walk with you through some of these dramatic changes that have taken place since 2008.
The first one is that we have become much more interdependent than in the days of Prime Minister Werner. A bank in the US collapsed – Lehman Brothers – and as a consequence there was a dramatic change in the banking landscape in the rest of the world; although it was only an American bank,...
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