Luxembourg farms. Luxembourg has especially close trade and financial ties to Belgium and the Netherlands (see Benelux), and as a member of the EU it enjoys the advantages of the open European market. With $171 billion in May 2015, the country ranks eleventh in the world in holdings of U.S. Treasury securities. However, securities owned by non-Luxembourg residents, but held in custodial accounts in Luxembourg, are also included in this figure. Luxembourg has efficient road, rail and air transport facilities and services. The road network has been significantly modernised in recent years with of motorways connecting the capital to adjacent countries.
Revolution of 1848 in Luxembourg powers. After being annexed by the French in the Napoleonic Wars, Luxembourg was elevated to a Grand Duchy and awarded to the Dutch King by the Congress of Vienna in 1815. While it was supposed to be ruled by him in personal union, rather than as part of his kingdom, the King-Grand Duke William I treated it merely as a province of the Netherlands. (At the time, modern Belgium was part of the Netherlands, so Luxembourg was not separated from Dutch territory.) The Grand Duchy would also be part of the German Confederation (the successor to the Holy Roman Empire),