Founded in 1823 in the city of Oxford, England, the Oxford Union aims to promote debate and discussion, not just in Oxford University, but also across the globe. Diversity, non-conformism, and outspokenness remain the guiding principles of the Oxford Union. Two opposing parties, composed each of two speakers, will present their arguments around a motion, in the hope of winning over the audience’s acclaim. At the end of the debate, the public will be asked to vote for or against the motion.
Luxembourg's financial sector has seen massive upheavals in recent years with revelations by whistle-blowers resulting in a high number of financial scandals, including Birkenfeld (2008), LuxLeaks (2014) and the Panama Papers (2016), among others. Under pressure from public opinion, political leaders have taken action and international regulations are currently being implemented.
We appear to be heading towards greater transparency with information exchanges by tax authorities becoming more widespread. Beyond regulatory changes and the disappearance of old practices, speakers will be asked to deliberate on the the financial sector's future. Will it be the same once all of these changes have been implemented? Or should it reinvent and reposition itself?
In other words, can one say: "A new financial services sector is necessary"?
PRO: Alfred Steinherr (SHU), Jean-Sébastien Zippert (Etika - Initiativ fir Alternativ Finanzéierung)
CONTRA: Tom Theobald (Luxembourg for Finance), Philipp von Restorff (ABBL)