The first session of the ECOFIN committee has officially started. The first task of the session was the ice breaking, in which all the participants shared the important information about themselves. Later on, each country presented their own ideas and their upcoming tactics based on the topic. The majority of the countries agreed first of all that money laundering and terrorist financing are very important crimes and that it is also needed to act united and work all together to construct measures and tighten the security in and out of the European Union.
Later on, Germany proposed a moderate caucus of 10 minutes in order to discuss the shell companies function and treatment in each country. The motion passed after they all voted.
During this period, Luxembourg and Slovakia, refereed that the shell companies should be separated in different categories and that the problem should be faced by each country itself. Germany, on the other hand, strongly supported the importance of the general cooporation. Afterwards, the Czech Republic argued that they are against banning in general the shell companies because they help in the finances of the European Union, but they need to control better their activities. Cyprus, Sweden and the Czech Republic stated that it is too early for this discussion because it is important to firstly address the problem. France and Spain took action and they declared that they, themselves are victims of terrorist attacks and they need instant solutions.
Finally, they all agreed that it is important for the discussion to continue the next day as they couldn’t find a common ground yet. So shall we see what is about to happen during the next days.
Vasiliki Katsarou and Dimitrios Chatzis, Journalists of EUFocus, ECOFIN.
