Der Euromarkt und die Internationalisierung der deutschen Banken: Das Beispiel Luxemburg

Kopper Christopher ()
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Kopper Christopher: Freiligrathstr. 14, D-33617 Bielefeld,Germany

Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, 2023, vol. 64, issue 2, 317-337

Abstract: The tax exemption of interest revenues and the high level of professional secrecy were the unique selling points of Luxembourg for the German banking community. From the 1960s to the 1990s, they were the main causes for the rise of Luxembourg to one of the biggest euromarket places. The government of Luxembourg used these institutional factors to foster and accelerate the economic transformation from an industrial to a post-industrial country. The German banks did not reduce or even discontinue their presence in Luxembourg after the end of tax exemption and strict banking secrecy. Instead, they specialized on syndicated loans, treasury functions and Private Wealth Management for wealthy clients.

Keywords: Auslandsbanken; Bundesrepublik Deutschland; Luxemburg; Euromarkt; Steuerfreiheit; Bankgeheimnis; Foreign banks; Federal Republic of Germany; Luxembourg; Euromarket; tax exemption; banking secrecy (search for similar items in EconPapers)
JEL-codes: G N (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jbwige:v:64:y:2023:i:2:p:317-337:n:12

DOI: 10.1515/jbwg-2023-0012

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