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PES ministers tackle the financing of terrorism

PES ECOFIN Ministers

Finance Ministers of the Party of European Socialists met today in Brussels to prepare the ECOFIN Council meeting.

They notably discussed a series of measures to prevent the financing of terrorism. These include tackling anonymity for payments transfers and accelerating the implementation of anti-money laundering measures adopted in the spring.

French Finance Minister Michel Sapin stated: ‘Strengthening the fight against the financing of terrorism must be put at the top of the political agenda. We need to find ways to check non-banking payment methods, to monitor transfers, and fight against money laundering and petty trafficking. All of this requires solid cooperation and coordination between all States and we expect swift and strong proposals from the Commission. There can be no “business as usual” when it comes to the security of our fellow citizens.’

Ministers also discussed measures to promote fair taxation and effectively tackle aggressive tax planning, especially of large corporations, in line with the OECD recommendations. Finance Minister Sapin added: ‘We need to step up the fight against tax evasion. Profits should be taxed in the country where they are generated – that is non-negotiable.'

Another mechanism to ensure fair taxation is the Financial Transaction Tax – a project of the socialist family. Ministers expressed their satisfaction with progress in negotiations for its implementation.

Last but not least, Ministers expressed their backing to the package presented by the Commission on a deposit guarantee scheme in the framework of the Banking union, coupled with a series of further measures to mitigate risks in the European banking sector.

The meeting was also attended by:

Algimantas Rimkūnas Vice Finance Minister Lithuania
Pier Carlo Padoan Finance Minister Italy
Edward Scicluna Finance Minister Malta
Mario Centeno Finance Minister Portugal
Magdalena Andersson Finance Minsiter Sweden
Karolina Ekholm State Secretary at the Ministry of Finance Sweden
Charlotte Svensson State Secretary at the Ministry of Finance Sweden
Jeroen Dijsselbloem Finance Minister The Netherlands
Elisa Ferreira MEP, Coordinator of the Committee of Economic and Monetary Affairs European Parliament

 

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