25% of the working force are Luxembourgish

10 comments

1. No.

2. I don’t know why rtl does these meaningless surveys 

3. No, it wouldn’t. We have two main issues that I think need to be tackled: (a) We need to diversify our economy as we have a lot of local brain drain. Not every Luxembourgish person that has ambitions wants to work in the financial sector, hence many choose to work in Germany, Switzerland or other more diversified economies. We will never be able to compete with those countries in terms of industry and innovation but we should at least incentivise talent to come back after their studies and create value here. Not everyone will but we should at least try. We should focus on niches and make it easier for people to create businesses.

   (b) The State (as much as I like a well organised state with good services) needs to become more efficient and for the love of God needs to stop its unfair competition with the private sector. So many engineers decide to go to the state after one or two years in the private sector. That’s freaking unhealthy for an economy.

4. Why wouldn’t this be sustainable? Demographics are on the decline so without immigration we can’t keep the population level, therefore we’ll always host a significant share of people of foreign nationality. On the cross border workforce, they live right next to their workplace and are just separated by an imagined line on a map.

   All characteristics that would make this unsustainable are inherent to our capitalist economy demanding unending growth from finite resources.

5. Nothing about our economic model is sustainable to be honest.

6. I think it’s fine as long as there is a pathway to citizenship for the residents that want to pursue it.

   I would agree with the other poster that Luxembourg needs to diversify its economy and aim to attract higher caliber of workers.

7. That works perfectly fine in the arabic gulf.

8. Legalise it

9. Not only it’s not sustainable, but also it’s going to disappear in the near future, in about 10-15 years.

   By all means I can’t predict the future, neither can I say this for sure but a trajectory and economic leading indicators (they are sometimes hit or miss but mostly lands on the main idea) shows this way.

   To understand this phenomenon, we need to look at underlying condition that made Luxembourg successful, I would argue number one reason for Luxembourg’s economic success is globalisation.

   When we saw an expansionary period for growth, the funds in Luxembourg had played a big role in financing global projects. This varies from building highways in Poland to bridges in Vietnam and growth stocks, securitised products, etc.

   This is very capitalistic; making money from money by financing projects but many world renowned economist believe that we are done with capitalism and have been done for a while.

   If you look at the current global geopolitical events and their ripple effects on governments, you can see that from US to China every country follows a conservative approach and more closed economy. I think that has something to do with pandemic and the economic war between the US and china but I don’t think it can be simplify to these two causes.

   This approach means countries will look more into internal financing within the country, you can already see the various regulatory acts coming together to support this (e.i chip act in the US).

   As I mentioned above, capitalism out platforms economy in, and simply only a few European country is ready for that, Germany, Netherlands and Sweden.

   Being in the industry well over a decade, I believe that firms in Luxembourg, majority of them at least, will be downsized and/or absorpt by platforms coming out of americas and asia.

10. Sounds sustainable af /s