Luxembourg

Luxembourg - Is the only remaining sovereign Grand Duchy known as Luxembourg. Luxembourg is a European Country and is completely surrounded by other countries, which means it has no ports of sea. Luxembourg shares borders with France, Belgium and Germany. Luxembourg is a parliamentary representative democracy with a constitutional monarch, ruled by a Grand Duke. Luxembourg was founded in 963, became a grand duchy in 1815 and an independent state under the Netherlands. Luxembourg gained full independence in 1867. Luxembourg was over run by Germany in both World Wars. Luxembourg joined North American Treaty Organization in 1949. In 1957, Luxembourg was one of the six founding countries of the European Economic Community which later became the European Union. Luxembourg has a very stable and high-income economy due mainly from its proximity to France, Belgium, and Germany, it features solid growth, low inflation, and low unemployment. The economy depends on foreign and cross-border workers for about 60% of its labor force.