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Luxembourg’s grand duke to abdicate after 25 years, passing throne to son
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CityNews Halifax
LUXEMBOURG (AP) — Grand Duke Henri of Luxembourg will abdicate the throne after 25 years Friday in favor of his eldest son, Guillaume, who will become head of state of the tiny duchy at the heart of Europe.
Later on Friday, the new grand duke will host an evening gala for guests including French President Emmanuel Macron and German President Frank-Walter Steinmeier.
The grand duchy is home to many of the banks in the eurozone, reinsurance companies and managers of hedge funds and money markets.
Guillaume will be Luxembourg’s seventh grand duke since 1890, when the modern monarchy was established.
For the rest, the grand duke will remain a political symbol,” he said.