Talking Business with Luxembourg Chamber of Commerce Chief Economist Carlo Thelen

Who are you and what do you do?

My name is Carlo Thelen, I'm a married father of three children. I work as Chief Economist at the Luxembourg Chamber of Commerce and serve as Head of Economic Affairs, Head of International Affaires and Interim Director General of the Chamber of Commerce (as of December 4)

How did you get where you are now?

I completed a Master's in Economic sciences at Louvain-la-Neuve before joining the Chamber of Commerce in January 1996. While there I built the Economic Affairs section of the Chamber of Commerce from scratch. I also participated in numerous State visits, trade fairs and economic missions to bolster the international experience.

In 2003, I became Chief economist and worked more on direct communication, writing a blog and giving macroeconomic presentations, for example.

I have served as a Board Member in numerous organisations and associations defending or promoting economic interests.

What are the most important skills and qualities for a successful business leader?

•  Perseverance

•  Communication skills

•  Ability to delegate efficiently

•  Commitment

•  Confidence

•  Ability to inspire

How do you assess the current economic situation in Luxembourg?

The situation is challenging but far from hopeless. What we need is a roadmap for modernising the country.

We need to diversify the economy further to increase its resilience and give perspectives to youngsters by tackling youth unemployment.

At the same time, we urgently need reforms to enable the long-term sustainability of Luxembourg’s socio-economic model while facing the huge challenges in terms of public finances.

What are your expectations and hopes for the Luxembourg economy in the next 12 months?

Some economic recovery is likely, but very far from pre-crisis levels.

If you could change one law in Luxembourg, what would it be?

The State budget law.

What's your pet peeve?

Mentalities which are locked in the past and an unwillingness to embrace change.

What do you like most and least about Luxembourg?

I most like the quality of life and cosmopolitan flair of the a truly “human-sized” city.

I least like the grey skies and traffic jams

How do you unwind?

By spending time with my family, Watching my three sons playing football.

What's your ringtone?

The factory setting one

What does your desk say about you?

Globetrotter: I have souvenirs from trade missions and State visits.

Chief Economist: There are economics publications underlining my willingness to stay on top of developments.