Bettel- Luxembourg won't block expansion of EU savings directive
Published on: Wednesday 05 February 2014
Luxembourg Prime Minister Xavier Bettel said at a news conference in Berlin with Chancellor Angela Merkel on Thursday that his country would not block the expansion of the European Union savings directive in the long term. Bettel said Luxembourg does not want to hold up an EU agreement on expanding the EU directive that would strengthen rules on how income on savings held in bank accounts is taxed until other separate agreements with other non-EU countries, such as Switzerland, have been reached. Merkel immediately welcomed the announcement, saying she was pleased that Luxembourg does not want to use Switzerland as an excuse to prevent the expansion of the EU savings directive.
