Contents page 1 — Europe’s financial supervisors procrastinate reconnaissance page 2 — “Hot air, a diversion” On a page to read

Europe’s financial supervisors procrastinate the investigation of the largest Steuerraubs in Europe, under the terms of a Cum-Ex and Cum-Cum. Four months after the European Parliament had demanded in a Resolution for an investigation of the “systematic tax theft”, has not yet been initiated in any such investigation by the eruopäische banking and financial market supervision.

have sent leading members of the European Parliament to fire letters to the banking authority, the EBA and the financial market Supervisory authority ESMA, for the work-up of the scandal in charge. The two letters are before the ARD magazine Panorama and TIME-ONLINE exclusive. The green top candidate for the European elections Sven Giegold calls for, together with the conservative Parliament Vice-President Othmar Karas, as well as leading members of the socialist and liberal groups of the supervisors, “to take all possible efforts to make this important investigation as quickly as possible”.

And the deputies threaten with dire consequences: in Case of EBA and ESMA to initiate the investigation, want to consider the members of the sanctions. For the supervisors that could be uncomfortable. Because the European Parliament decides annually on the budgets of both the EU authorities and you can lock large amounts of funds.

explains the Short and the Cum-Ex tax scandal It is expired is probably the biggest tax scandal in German history. Such as banks and lawyers stole billions, we show in this Video. © Photo: Kerstin Welther

With the Resolution, the European Parliament had responded to the publication of the CumEx-Files. This Research from 19 European media had shown in October, by purely tax-driven equity emerged in shops like Cum-Ex and Cum-Cum in the whole of Europe to an estimated loss of at least 55 billion euros. The Research also studied the control of prey continues to this day.

In the letters, the deputies complain that the Supervisory authorities have so far introduced only a discussion among its members, the national supervisors, without making a decision. “In our opinion, this is due to the urgency of the matter and the request by the European Parliament of more than four months is not enough.” The parliamentarians warn once again that the “ongoing fraud practice,” the integrity of the financial markets in danger and calling for “swift and decisive Action”. “It would be harmful for the credibility of European democracy, if the voice of the European Parliament would be ignored in this important matter simple,” conclude the MPs.

Despite repeated demand, the banking authority, the EBA does not wish to comment on the requested investigation. The financial market Supervisory authority shall notify ESMA of only one has made a “preliminary analysis of the phenomenon of” Cum-Ex and wool watch “the practice”.