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Yearbook 2002

Luxembourg. According to Countryaah website, Luxembourg's banking secrecy came into focus again as the EU tried to get a number of other tax havens to enter into cross-border information exchange agreements on foreigners' bank accounts. Luxembourg was one of three EU countries that drafted transitional rules with the option of taxing interest income rather than disclosing information. But Switzerland demanded a significantly higher interest rate to join, which towards the end of the year seemed to jeopardize the entire agreement.

2002 Luxembourg

In November, 20 of 22 people died aboard a Luxair plane when it crashed just before landing in Luxembourg. It was foggy at the time of the accident. The plane came from Berlin and most of the dead were German businessmen.

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