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Germany:  Too early to speak of external political consequences of ‘Panama Papers’ - Merkel spokesman03:26

Germany: Too early to speak of external political consequences of ‘Panama Papers’ - Merkel spokesman

Germany, Berlin
April 4, 2016 at 13:20 GMT +00:00 · Published

Officials from the German government spoke to the press on Monday about the so-called Panama Papers leak that includes a large amount of data exposing widespread international corruption.

During the discussion, both the spokesperson for the German Federal Government and press office Steffen Seibert and spokesperson for the Finance Ministry Martin Jaeger called for more transparency.

Seibert refused to speculate on political fallout from the releases, however he did say that the papers will be examined and possible tax evasion models would be investigated. "Such publications are taken very seriously, and there, where there is the evidence of tax evasion models, it is also to be pursued on a national level."

According to German newspaper Sueddeutsche Zeitung, who was part of the team that leaked the papers, the data "provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world's rich and famous: from politicians, FIFA officials, fraudsters and drug smugglers, to celebrities and professional athletes."

The data provided in the leak centres around the activities of Mossack Fonseca over a period from the 1970s until spring 2016. There is believed to be an estimated 11.5 million documents in the Panama Papers, making it the largest leak of its kind. The information provided in the leak purportedly exposes the offshore holdings of 12 current and former world leaders as well as unveiling data on the financial activities of 128 other politicians and public officials from a number of countries.

Germany:  Too early to speak of external political consequences of ‘Panama Papers’ - Merkel spokesman03:26
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Officials from the German government spoke to the press on Monday about the so-called Panama Papers leak that includes a large amount of data exposing widespread international corruption.

During the discussion, both the spokesperson for the German Federal Government and press office Steffen Seibert and spokesperson for the Finance Ministry Martin Jaeger called for more transparency.

Seibert refused to speculate on political fallout from the releases, however he did say that the papers will be examined and possible tax evasion models would be investigated. "Such publications are taken very seriously, and there, where there is the evidence of tax evasion models, it is also to be pursued on a national level."

According to German newspaper Sueddeutsche Zeitung, who was part of the team that leaked the papers, the data "provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world's rich and famous: from politicians, FIFA officials, fraudsters and drug smugglers, to celebrities and professional athletes."

The data provided in the leak centres around the activities of Mossack Fonseca over a period from the 1970s until spring 2016. There is believed to be an estimated 11.5 million documents in the Panama Papers, making it the largest leak of its kind. The information provided in the leak purportedly exposes the offshore holdings of 12 current and former world leaders as well as unveiling data on the financial activities of 128 other politicians and public officials from a number of countries.

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