Both the The Luxembourg Socialist Workers’ Party (LSAP) MP Franz Fayot and Minister for Foreign Affairs Xavier Bettel expressed satisfaction to RTL, though they offered some minor criticism of the CSSF. Xavier Bettel explained in a voice message to us: "They did not ask us back then when they made their decision, and today, again, they did not ask." The Minister for Foreign Affairs had previously, in September last year, accused the CSSF of handing him a "hot potato" after the regulator faced criticism over its authorisation of the Israel Bonds.
LSAP MP Franz Fayot believes the CSSF should not have approved these Israeli bonds a year ago. In response to comments that the financial regulator operates independently and that there are currently no European sanctions in place against Israel, he argued that the CSSF does not exist in a "vacuum". He noted that after their decision in September, the CSSF sought an opinion from the foreign ministry. Furthermore, he pointed to serious violations of international law and to opinions issued by the International Court of Justice.
Foreign Minister Xavier Bettel has recently strongly condemned the Israeli government and its actions. However, at an economic forum, he also warned that one should avoid promoting antisemitism or messages such as "Do not buy from Jews". For Franz Fayot, antisemitism is a "no-go", but he argued that this does not mean one cannot criticise the policies of the Israeli government. In his view, the latter is currently doing the most to fuel hatred against Jews.
The LSAP MP, who served as Minister of the Economy until 2023, also argues that the European Union must finally stop its double standards and treat Israel like Russia: by freezing its trade agreement with Israel and sanctioning Israeli ministers. He added that Luxembourg, like other EU countries, could already impose sanctions on its own initiative.
