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Profile
 The
Grand Duchy of Luxembourg is bordered by Belgium, France and Germany.
The official language is Letzeburgish, but French and German are
widely used. The duchy is a member of the EU and the EMU and has
one of the highest standards of living in the world. Luxembourg
depends heavily on trade and has an economic union, BLEU, with Belgium.
The economy is very stable with low inflation and low unemployment.
This reflects the strength of the banking and finance sectors which
has been boosted by low tax rates and relative security.
The chief asset of the Luxembourgien political economy is its very
high general educational levels, with Luxembourg proudly boasting
having more university graduates per capita than any other country
in relatively well educated western Europe, and this, even more
remarkable, as Luxembourg does not have a university of its own
per se.
Their economic post World War II recovery was assisted by the creation
of the European Coal and Steel Community headquartered in the country
but the new wealth of today is no longer depended upon heavy mining
or manufactories but is very substantially based in the international
service sector.
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