Pandora Papers: Take action against secret offshore companies - David Casa

Member of the European Parliament and Quaestor David Casa spoke out against the use of offshore jurisdictions, following the revelations of the Pandora Papers, the biggest leak of documents from offshore law firms to date.

Five years after the Panama Papers, Europe is still debating on how to deal with the ultra-rich who use expensive legal services to stockpile their wealth, tucked away from scrutiny.

“We have learnt nothing from the Panama Papers,” Casa declared in an address to the European Parliament plenary in Strasbourg, just days before the 4th anniversary of the assassination of Daphne Caruana Galizia, who had reported on the Panama Papers in 2016.

With the Pandora Papers, we are once again reminded of how far powerful people go, to avoid scrutiny over funds at their disposal and their provenance. In the aftermath of the pandemic, the Pandora Papers is a slap in the face of recovery efforts for the economy, on which honest workers and families depend.

“This money shouldn’t be hidden away. Politicians shouldn’t hide money, but invest money in our youth to find better work; in those who lost their jobs because of the pandemic, to find other opportunities; for those who lost their part-time jobs, to find other work.”

Casa underlined the disillusionment of European citizens, when politicians are caught flouting their own obligations towards the citizens and the state.

This is especially true for those who opened offshore companies and accounts to hide their ill-gotten gains, notably through embezzlement, kickbacks, and money laundering.

“My appeal is clear: together - all the European institutions - let's unite, let's pass the necessary laws, and let's ensure that they are enforced. Those who have buried their cash, should not find the law on their side.

I give my word that I will be on the forefront on this fight, so that the corrupt are made accountable for their actions.

Justice must be done and must be seen to be done. We can only achieve this if we work together.”