Luxembourg is a country of a little over half million people residing on a 2,586 square kilometers area.
The country is a parliamentary democracy and despite the small size, it’s highly developed, stable and with high-income, yet low unemployment and low inflation. Steel was a dominant sector in the 1960s, after which other sectors were included such as rubber, chemicals, and more. Banking and financial exports have been so well-developed that Luxembourg became the world’s second largest investment fund center after USA. In addition, the country hosts the headquarters of eBay and Skype as well as offices of many other local and global internet companies.
Luxembourg joined the European Union on March 25, 1957. Prior to1999, the country’s currency was Luxembourg franc, after which it adopted the euro.
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