The European Parliament
ECR Position 6
Cite as https://mymun.com/ppdb/6413
Position Paper BMEU 2016: European Conservatives and Reformists Directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing The European Conservatives and Reformists believe that any action taken to prevent money laundering and terrorist financing is welcomed, especially when it is aimed to protect the EU single market which at this point is deeply intertwined, and any harm on the financial system of a Member State can very well affect the EU internal market as a whole. However, there are a few provisions proposed by the European Commission that we believe need further amendment. As a member of the ECR, I strongly applaud the steps taken towards preventing the use of the financial system for terrorist financing, which at the moment is a very relevant threat to the world and especially the EU Member States which have been under constant threat the last few years. But does this give the right to EU to create an institution with such authority as the Financial Inte...