One of the outcomes of the Panama Papers scandal could be the “development of policies among European countries that would totally open up the structures by which trusts are run,” Labour MEP Alfred Sant said.

Writing in his blog on The Malta Independent today, Dr Sant once again expressed concern that the scandal will have a negative effect on the financial services industry in Malta.

Last week, during the programme INDEPTH, Dr Sant made the same argument, saying that what Malta should be worried about is the effect the Panama Papers scandal will have on such an important piece of Malta’s economy.

No Portfolio Minister Konrad Mizzi and OPM chief of staff Keith Schembri were named in the Panama Papers scandal as having secretly opened companies in Panama.

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