Nationalist MEPs David Casa and Roberta Metsola will be sitting on the European Parliament’s 65-member committee of its “Panama Papers” Committee of Inquiry into tax evasion and money laundering.
Contrary to previous reports, Labour MEP Alfred Sant will not be sitting on the committee, whose remit was approved by the EP on June 8 as a response to the Panama papers revelations.
In a statement this afternoon, Mr Casa said that even with the tougher EU anti-money laundering laws adopted last year the financial manoeuvres of politicians strongly suspected of corruption and money laundering would have remained undetected without the leaks. The committee must focus on addressing such loopholes, he said.
He added that the Konrad Mizzi case put the entire country in a bad light.
“We will do our utmost to show that the actions of those in Castille should not be a reflection of Malta’s reputable financial services industry. And we must advocate for the creation of additional safeguards to prevent persons in power with criminal intent from being able to operate undetected so easily.”
Dr Metsola said Malta would likely be forced to go through the process of having Dr Mizzi hauled before MEPs who would, undoubtedly, question the various mercurial excuses he put forward to try to explain away the setting up of his secret financial operations while he was minister.
“The inquiry will be extensive. It will coincide with Malta’s Presidency of the Council of the European Union, putting the golden opportunity our country will have of being in the driving seat of the EU agenda under a dark cloud. No one will be taking any pleasure in this. It puts the entire country under a bad light. Konrad Mizzi could have avoided it by resigning. Joseph Muscat could have avoided it by sacking him when he refused. They chose this road at the expense of Malta's reputation," she said.
Dr Comodini Cachia maintained that the Panama Papers revealed how a few power wielding persons hid their income and assets in jurisdictions which provided secrecy, thereby escaping public scrutiny and fiscal obligations.