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Andorra News Archive 2015



Andorra News Archive 2015

03.12.2015 No "opt-out" right in case of invasive smart meters [DE]

The introduction of "smart" electricity meters advances. Customers' concerns regarding security, privacy or the increase in the exposure of electric smog are not applicable in Andorra. The installers come in the morning in front of the door and without notice. An "opt-out"-right does not exist in Andorra.

30.10.2015 Non EU companies fall into the claws of the EU tax collectors [DE]

Irrational (new)-regulation of EU VAT has devastating effects on small businesses in third countries.

30.09.2015 The Council of Europe criticizes abuse of the remand in custody

A report from the Committee of Legal Affairs of the Council of Europe Parliament criticizes the massive, repugnant to a state of law, abuse of imprisonment on remand. The highest pretrial imprisonment rates are in Andorra (60%) followed by Turkey (50%). Some states are accused of abusing politically pretrial detention.

27.09.2015 Shell companies: flags of convenience for aircrafts [DE]

Andorra is reinventing the tax haven for the aviation industry.

13.08.2015 Bank account opening becomes even more unpredictable [DE]

Andorran Business Confederation criticizes as arbitrariness the practice of the banks when complete the money laundering prevention regulations in connection with banc account openings.

21.04.2015 Delays: Andorran euro coins sets remain extremely scarce [DE]

Interruption of supply and new supply bottlenecks are delaying the supply of the collector. Government threatens with the laws lobe foreign merchants, which are buying the coins in Andorra. A direct supply to distributors abroad is still not in sight. Irregularities in the supply of the starter kits provoke lawsuits.

13.03.2015 S&P downgrades further the credit rating of Andorra

The US rating agency Standard & Poor's (S&P) reduced on 12.03.2015 the credit rating for Andorra from 'BBB+' to 'BBB'. These are two stages to the status designated as junk. The renowned rating agency justified the step with the affair of the bank BPA. Another downgrade could not be excluded. Only in October 2014, the reduction of 'A-' to 'BBB +' with increased risks of Andorra's financial sector was established.

10.03.2015 Andorran Bank under suspicions of money laundering by the US authorities [DE]

The Banca Privada d'Andorra (BPA) has been placed under the control of the Andorran Financial Supervisory Authority after allegations of money laundering from the USA. The BPA has to comment on the allegations within 60 days.
The unusually strong media echo and the hysterical reaction of the Andorran government with the premature nationalization triggered a bank run. As a result, the Spanish subsidiary Banco Madrid had to file for bankruptcy and the parent company was in distress despite the comparatively high solvency.

MUST-READ 09.03.2015 Switzerland and Andorra are upgrading to surveillance states [DE]

Andorra's government also purchases interception and decryption software from the US company, which cooperates with intelligence services, such as the NSA, without adequate legal framework. Learn how to protect yourself from spying.

06.03.2015 Andorra joins the EU [DE]

Just rumors or is more behind it? "The Principality of Andorra wants to join the EU!" So at least briefly reports the Vertrauliche Schweizer Brief (VSB) in its latest edition.

02.03.2015 Election result: Before the election is after the election [DE]

Despite an in Andorra unprecedented popular discontent, the ruling party was able to hold on to their voters with promises of further group-specific state services.

16.02.2015 Press Freedom in Andorra declines significantly [DE]

Reporters Without Borders (RWB) determined Andorra with minus 27 places as the major loser in the Press Freedom Index 2015. Andorra pays the penalty price for the lack of independence of the media and lack of source protection.

02.02.2015 Andorra euro coins fever [DE]

The launch of the first Andorran euro coins sparked a run on the authorized coin dealers in Andorra. Because of the targeted reduction in supply, the government provoked long queues and speculation in Andorran euro coins and upsets so collectors and dealers likewise.


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