Thirty-First of August

Yesterday, Amnesty International staged a protest outside the offices of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's financial regulator. The concern: Israeli government bonds being sold in Europe via Luxembourg, generating billions of euros for Israel. Campaigners argued that Luxembourg was complicit in funding Israel's actions against Palestine by allowing their sale.[1]

Today, Finance Minister Gilles Roth confirmed: the Israeli government bond will not be renewed after it expires on August 31, 2026. The decision was taken by the CSSF, which oversees the national financial sector, two months ago. The bond will not be extended.[1]

Roth defended the CSSF against criticism, emphasising that the regulator had followed European criteria in its decision-making process. He argued that many of the accusations directed at the CSSF were unwarranted, reiterating that the bond's discontinuation was a matter of regulatory compliance rather than political pressure.[1]

Whether the timing is coincidental or not, the announcement came within 24 hours of the Amnesty protest. Roth insists the CSSF decided two months ago. Amnesty insists Luxembourg risks complicity. Both can be true: a regulator may have acted on European criteria, and a protest may have drawn public attention to a decision that would otherwise have passed quietly.[1]

Yesterday we reported Amnesty's warning that Luxembourg "risks becoming complicit in war against Palestinians." Today, the bond is ending. The question of whether advocacy accelerated public disclosure, or merely coincided with it, will remain unanswered. What is certain is that after August 31, Israeli government bonds will no longer be sold through Luxembourg.[1]

Housing and Trams

Roth also addressed the housing measures announced by the government, intended to restore confidence and stimulate investment in the property market. The initiatives are primarily aimed at private individuals, who have recently enjoyed higher returns on savings and investments. The measures, developed in consultation with the sector, will be brought before parliament as soon as possible so they can be applied retroactively for the whole year. It has yet to be decided whether they will be extended to legal entities.[1]

Responding to criticism from The Left (Dei Lenk) that the measures do not sufficiently support tenants, Roth argued the priority is to increase the number of available homes. Many projects have planning permission but have not yet been realised. A decade ago, the main obstacle was the lack of such permissions. Through tax incentives, the government aims to remove barriers to construction.[1]

On the tram extension to Strassen, parliament has approved legislation with €114 million allocated. The law, passed unanimously, does not include the purchase of the land currently occupied by Batiself and other shops. Roth explained that even if the tram crosses the site, the state is not obliged to acquire the entire property. The location of the station, the tram route, and the type of developments suitable for the site fall under the authority of local councils, he said, emphasising the importance of municipal autonomy.[1]