As a representative democracy with a constitutional monarch, it is headed by Grand Duke Henri and is the world’s only remaining sovereign grand duchy. With a population of less than 1 million Luxembourg boasts one of the worlds highest GDP per capita. Banking and finance account for the majority of Luxembourg’s economic output and it retains the position as one of the eurozone most important private banking centres.
Luxembourg is one of the four founding members of the European Union, OECD, United Nations, NATO and Benelux, and is recognised as one of the four official capitals of the Europe Union. Luxembourg is home to several institutions and agencies of the EU and is the seat of the Court of Justice of the European Union.