Luxembourg is one of the smallest countries in Europe, and ranked 170th in size of all the 194 independent countries of the world; the country is about 2,586 square kilometres (998 sq mi) in size, and measures 82 km (51 mi) long and 57 km (35 mi) wide. It lies between latitudes 49° and 51° N, and longitudes 5° and 7° E.
Luxembourg has an oceanic climate (Köppen: Cfb), marked by high precipitation, particularly in late summer.
Luxembourg's stable, high-income economy features moderate growth, low inflation, and low unemployment.
Concern about Luxembourg's banking secrecy laws, and its reputation as a tax haven, led in April 2009 to it being added to a "grey list" of nations with questionable banking arrangements by the G20. Luxembourg adapted some months later the OECD standards on exchange of information and moved into the category of 'Jurisdictions that have substantially implemented the internationally agreed tax standard.
In March 2010, the Sunday Telegraph reported that most of Kim Jong-Il's $4bn in secret accounts is in Luxembourg banks.
From Daily photo