Sat, Sep 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge fund friendly Luxembourg to get new prime minister following spy scandal

Thursday, July 11, 2013

Bailey McCann, Opalesque New York:

Alternatives friendly Luxembourg will be getting a new prime minister. Jean-Claude Juncker, the European Union’s longest-serving head of government said in a statement early today that he will resign after being implicated in a spy scandal rocking the country. A report issued on July 5th indicated that the leader was implicated in a report dealing with irregularities in the State Intelligence Service.

Juncker previously served in a group of European finance ministers, and Luxembourg has a history of being friendly to investment firms looking to set up shop. Juncker's coalition partners, the Socialists first called for dissolution of the government and new elections, shortly after that Juncker himself indicated he would resign. Elections are expected to come quickly.

According to a BBC piece, the report suggested that illegal bugging operations, along with improper payments in exchange for access to elected officials. Juncker has denied any wrong doing, but the article notes that things may have gotten out of hand because he was too focused on his eurozone duties.

The local parliament was headed to summer vacation, which may still go forward depending on when elections are to be held. Deutsche Welle called Juncker 'the model European' and ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali