Credit: Finanzdepartement/Schweizerische Eidgenossenschaft
On Monday 22 and Tuesday 23 August 2022, Luxembourg's Minister of Finance, Yuriko Backes, took part in the traditional meeting of German-speaking finance ministers in Eschenz, Thurgau in Switzerland.
The host, Federal Councilor and Head of the Federal Department of Finance, Ueli Maurer, had invited Minister Backes, Federal Finance Minister from Germany, Christian Lindner, the Head of Government and Minister for Presidential Affairs and Finance of the Principality of Liechtenstein, Daniel Risch, and the Austrian Finance Minister, Magnus Brunner.
Against the background of the tense geopolitical situation, the participants discussed risks for economic development. The rise in energy prices, inflationary pressures and the high level of uncertainty in general were key themes. Minister Backes referred to the economic and social policy measures that Luxembourg had already adopted in the wake of the Ukraine crisis. In connection with the discussion on international financial issues, she reaffirmed Luxembourg's support for the global tax reform of the OECD.
In conclusion, Minister Backes commented: “The exchange with reliable partners is crucial in tense times. In the face of common challenges, it is certainly helpful to face them as one. Due to its informal nature, the meeting in Switzerland enabled a direct and open exchange with my counterparts, which I appreciate very much.”
The annual meetings of the German-speaking finance ministers have been taking place since 2010 and are organised alternately by the participating countries. Luxembourg last hosted in 2019. Germany will host the meeting in 2023.
