Luxembourg. In September, the L.A. authorities destroyed
thousands of banknotes that had been secretly printed for 20
years should the monetary union with Belgium collapse. It
revealed Prime Minister Jean-Claude Juncker in December,
just before the euro replaced the Belgian franc. Luxembourg had
shared currency with the neighboring country since 1921. At
one point, in connection with the crisis in exchange rate
cooperation ERM in 1993, Luxembourg also threatened to withdraw from
the monetary union, Juncker stated.
Countryaah, Luxembourg continued during the year to oppose an EU
agreement on cross-border information exchange on
foreigners' bank accounts.