While traditional freeports allow businesses to locate goods there, tax-free, while they find buyers, the Le Freeport warehouse in Luxembourg has come to the attention of the president of the European Commission, which has referred the matter for further inquiry. One MEP has demanded that Luxembourg close it down.
The last thing Luxembourg needs in 2019 is an issue with the EU; we have seen that Malta's problems, its CBI passports, its dodgy banks with foreign owners, and its officials named in the Panama Papers, all damaged its image with the European Union. We trust that Luxembourg's leaders move promptly to shut down this facility, which will certainly affect its reputation abroad, as well as within the EU.
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