Gilles Roth, Luxembourg's Minister of Finance;
Credit: Luxembourg for Finance
Luxembourg's Minister of Finance, Gilles Roth, visited Milan, Italy from Tuesday 17 to Thursday 19 September 2024, as part of a financial mission with Luxembourg for Finance (LFF).
As reported by the Ministry of Finance, during this mission, Minister Roth met with the leadership of the Italian financial sector to discuss the European macroeconomic situation. The minister welcomed the news that the Italian financial sector wants to continue to strengthen its presence in Luxembourg.
The ministry added that, currently, the main Italian banks, insurance companies and asset managers are all present in Luxembourg. For the life insurance sector, Italy represents the second most important market. Italian fund promoters represent around 6% of assets in Luxembourg investment funds.
Speaking at the LFF event, Minister Roth said: "Recent reports by two former Italian Prime Ministers have highlighted the need to act in favour of European competitiveness. I firmly believe that together and as complementary financial centres, Milan and Luxembourg can play a key role in making the EU economy more competitive, more innovative and more sustainable."
The visit ended on Thursday with a speech and an "optimistic" and "pro-European" exchange between Minister Roth and professors and students at Bocconi University on the future of Europe in the current polycrisis. The minister concluded: "I believe that the way out of the current polycrisis requires a kind of new renaissance. I firmly believe that we can achieve this together, as Europeans."
