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D. Papadimoulis: Power players are stashing assets in Offshore companies and trusts while their governments do little to slow down the global stream of illicit money that enriches criminals and impoverishes nations

D. Papadimoulis: Power players are stashing assets in Offshore companies and trusts while their governments do little to slow down the global stream of illicit money that enriches criminals and impoverishes nations



An immediate initiative by Dimitriοs Papadimoulis in order to debate the mega-scandal of #Pandora_Papers in the Plenary Session of the European Parliament - His letter to the President of the EP, David Sassoli and to the co-chairs of the political group of The Left

An urgent Letter with the proposal of a debate -with resolution, on the mega-scandal of the Pandora Papers in the October II plenary of the European Parliament (October 18-21), was sent earlier today, by the Vice President of the European Parliament and head of the SYRIZA - Progressive Alliance delegation, Dimitrios Papadimoulis, to the President of the EP David Sassoli.

The letter, that also communicated to the Co-Chairs of the European party of The Left at the European Parliament, Martin Schirdewan and Manon Aubry, in order to be submitted as an official request to the Conference of Presidents, states that:

“The Pandora Papers documents reveal the global entanglement of political power and secretive offshore finance”, bringing to light “the secret deals and hidden assets of more than 330 politicians and high-level public officials in more than 90 countries and territories, including 35 country leaders”.
Following the money-laundering scandals, such as the Panama Papers, Paradise Papers, Offshore Leaks, LuxLeaks, Mauritius Leaks, CumEx and FinCen in the recent past, the Pandora Papers, according to Dimitrios Papadimoulis “prove once more that the existing legislation and measures are not sufficient and loopholes are exploited by the privileged who have access to the offshore system to tax evade and by criminals to money launder”.
“Europe and especially the European Parliament should be in the forefront to ensure full transparency and international tax rules, practices and cooperation”, underlines the MEP of SYRIZA, and for this reason proposes that the issue be discussed at the Plenary Session of the European Parliament, in a debate entitled: ‘Council and Commission statements - The Pandora Papers: Need to substantially enforce fighting tax evasion and money laundering in Europe and the world (with resolution)’.

The full Letter of VP Dimitrios Papadimoulis to the EP President David Sassoli:

Dimitrios Papadimoulis
Vice-President of the European Parliament

To the attention of: Mr. David Maria Sassoli
President of the European Parliament

4October 2021

Subject:    Pandora Papers

Dear President Sassoli,
Dear David,

The International Consortium of Investigative Journalists (ICIJ) revealed yesterday the Pandora Papers. The investigation reveals the secret deals and hidden assets of more than 330 politicians and high-level public officials in more than 90 countries and territories, including 35 country leaders. The Pandora Papers lays bare the global entanglement of political power and secretive offshore finance.

The leaked records once more prove that the existing legislation and measures are not sufficient and loopholes are exploited by the privileged who have access to the offshore system to tax evade and by criminals to money launder. As ICIJ underlines, it even reveal that many of the power players who could help bring an end to the offshore system instead benefit from it – stashing assets in covert companies and trusts while their governments do little to slow a global stream of illicit money that enriches criminals and impoverishes nations.

It is not the first time that investigative journalism replaces incomplete legislation and insufficient mechanisms and measures in Europe and all around the world. Regrettably, the rather recent revelation of Panama Papers did not result to the necessary stricter rules, which would prevent tax evasion, tax avoidance and money laundering.

After the revelation of the Pandora Papers, Europe and especially the European Parliament should be in the forefront to ensure full transparency and international tax rules, practices and cooperation. European and international tax authorities should be able to cooperate more efficiently based on agreed legislation and cooperation protocols to stop this global gangrene, which jeopardizes public trust and the very essence of rule of law and further enforces inequalities at European and global level.
Therefore, I would like to propose a debate with resolution in the October II plenary, under the title: ‘Council and Commission statements - The Pandora Papers: Need to substantially enforce fighting tax evasion and money laundering in Europe and the world (with resolution)’. I have already asked my Political Group to request this debate with resolution in the coming Conference of Presidents.

Thank you for your cooperation and consideration.

Yours sincerely,

Dimitrios Papadimoulis



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