Grand Duke Henri of Luxembourg will step down on Friday, handing the crown to his eldest son, Guillaume. Luxembourg, one of Europe’s smallest states, will thus see its first change of monarch in 25 years, ABC News reported
Henri, now 70, is known for his reserved demeanor and tall stature. His education took him across Europe, including studies in France and Switzerland, as well as military training at the Royal Military Academy Sandhurst in the United Kingdom. Guillaume, 43, mirrored much of that path — attending schools in London, Switzerland and France, training at Sandhurst, and later gaining professional experience with companies in Belgium, Germany and Spain.
Luxembourg City’s Grand Ducal Palace will host the formal abdication. After the ceremony, Guillaume will receive the crown and pledge loyalty to the nation’s constitution before the 60-member Chamber of Deputies, Luxembourg’s parliament.
Despite its small size, Luxembourg wields significant economic influence, boasting the highest per capita wealth in the European Union. It is a key center for banking, reinsurance, hedge fund management, and money markets, and hosts major EU institutions, including the European Court of Justice and the European Investment Bank.
Luxembourg’s economy is robust, with unemployment close to zero. Politically, the country operates as a parliamentary democracy, and the sovereign holds a largely ceremonial role, similar to that of monarchs in the United Kingdom and Belgium. Its roughly 700,000 residents communicate in Luxembourgish, French and German. English and Portuguese are also widely used in daily life.
